Patten & Patten Inc. TN Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Patten & Patten Inc. TN trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,700 shares of the electric vehicle producer’s stock after selling 53 shares during the quarter. Patten & Patten Inc. TN’s holdings in Tesla were worth $1,494,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. World Investment Advisors LLC raised its position in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares during the period. Destination Wealth Management raised its position in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC raised its position in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the period. Vinva Investment Management Ltd raised its position in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $550.00 price target on shares of Tesla in a research report on Friday, March 7th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Stifel Nicolaus reduced their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $325.65.

Tesla Stock Performance

NASDAQ:TSLA opened at $249.98 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. The company has a 50 day moving average price of $351.31 and a 200 day moving average price of $320.31. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

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

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.