Resurgent Financial Advisors LLC Sells 448 Shares of Tesla, Inc. (NASDAQ:TSLA)

Resurgent Financial Advisors LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,489 shares of the electric vehicle producer’s stock after selling 448 shares during the period. Resurgent Financial Advisors LLC’s holdings in Tesla were worth $601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC raised its position in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after buying an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $254.11 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a 50 day moving average of $280.27 and a 200-day moving average of $323.03. The company has a market cap of $817.35 billion, a price-to-earnings ratio of 124.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on TSLA. Robert W. Baird lowered their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group reduced their price target on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $298.59.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.