Allegiance Financial Group Advisory Services LLC Sells 674 Shares of Tesla, Inc. (NASDAQ:TSLA)

Allegiance Financial Group Advisory Services LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,723 shares of the electric vehicle producer’s stock after selling 674 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Tesla were worth $677,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TSLA. MidWestOne Financial Group Inc. lifted its holdings in Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after purchasing an additional 15 shares in the last quarter. City State Bank lifted its stake in shares of Tesla by 3.3% in the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after buying an additional 40 shares in the last quarter. Marcum Wealth LLC lifted its stake in shares of Tesla by 0.6% in the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after buying an additional 41 shares in the last quarter. Linscomb & Williams Inc. lifted its stake in shares of Tesla by 3.5% in the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after buying an additional 42 shares in the last quarter. Finally, Investors Research Corp lifted its stake in shares of Tesla by 5.5% in the second quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock worth $210,000 after buying an additional 42 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. 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 insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Redburn Atlantic began coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Guggenheim raised their price target on shares of Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a research note on Friday, December 15th. Canaccord Genuity Group reduced their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Finally, Truist Financial reduced their target price on shares of Tesla from $227.00 to $193.00 and set a “hold” rating on the stock in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $204.63.

Tesla Trading Down 0.3 %

NASDAQ TSLA opened at $175.22 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52 week low of $152.37 and a 52 week high of $299.29. The stock has a market capitalization of $558.04 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.97 and a beta of 2.40. The firm has a 50 day moving average of $186.33 and a two-hundred day moving average of $220.38.

Tesla (NASDAQ:TSLA) 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). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the firm earned $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

About Tesla

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.