Acorn Financial Advisory Services Inc. ADV Sells 488 Shares of Tesla, Inc. (NASDAQ:TSLA)

Acorn Financial Advisory Services Inc. ADV trimmed its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,192 shares of the electric vehicle producer’s stock after selling 488 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Tesla were worth $2,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. bought a new stake in Tesla in the third quarter worth $25,000. Wyrmwood Management LLC bought a new stake in Tesla in the fourth quarter worth $25,000. Halpern Financial Inc. lifted its position in Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Alpha Paradigm Partners LLC bought a new stake in Tesla in the third quarter worth $27,000. Finally, MayTech Global Investments LLC bought a new stake in shares of Tesla during the fourth quarter worth $30,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,598 shares of company stock worth $36,952,434. 20.90% of the stock is currently owned by company insiders.

Tesla Trading Up 2.9 %

Shares of TSLA stock opened at $177.67 on Wednesday. The firm has a 50-day moving average price of $189.34 and a 200 day moving average price of $222.86. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The company has a market capitalization of $565.84 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 3.90 and a beta of 2.41. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. Research analysts forecast that Tesla, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Sanford C. Bernstein cut their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Tesla from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Finally, Piper Sandler decreased their price target on Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 5th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $208.04.

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About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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