Scarborough Advisors LLC Has $640,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Scarborough Advisors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,585 shares of the electric vehicle producer’s stock after selling 234 shares during the quarter. Scarborough Advisors LLC’s holdings in Tesla were worth $640,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TSLA. Swedbank AB grew its position in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Tesla by 23.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 12,172 shares of the electric vehicle producer’s stock valued at $3,185,000 after acquiring an additional 2,335 shares in the last quarter. Venture Visionary Partners LLC increased its stake in shares of Tesla by 1.5% in the third quarter. Venture Visionary Partners LLC now owns 41,371 shares of the electric vehicle producer’s stock worth $10,824,000 after acquiring an additional 617 shares during the last quarter. Integrity Wealth Solutions LLC raised its holdings in shares of Tesla by 6.1% during the third quarter. Integrity Wealth Solutions LLC now owns 8,347 shares of the electric vehicle producer’s stock worth $2,184,000 after acquiring an additional 477 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in Tesla by 10.7% during the third quarter. Raleigh Capital Management Inc. now owns 3,561 shares of the electric vehicle producer’s stock valued at $932,000 after purchasing an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TSLA. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and upped their target price for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Truist Financial raised their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $326.50.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.5 %

Shares of TSLA stock opened at $354.11 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. The company has a market capitalization of $1.14 trillion, a P/E ratio of 173.58, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a 50-day moving average price of $405.64 and a 200 day moving average price of $309.75.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current fiscal 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.