Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Schear Investment Advisers LLC

Schear Investment Advisers LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,314 shares of the electric vehicle producer’s stock after selling 195 shares during the quarter. Schear Investment Advisers LLC’s holdings in Tesla were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at about $3,459,540,000. Moneta Group Investment Advisors LLC raised its position in shares of Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after acquiring an additional 26,836,879 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after acquiring an additional 13,558,882 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Finally, Morgan Stanley lifted its holdings in Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after purchasing an additional 5,292,464 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA traded down $2.66 during mid-day trading on Friday, reaching $147.27. The stock had a trading volume of 67,026,942 shares, compared to its average volume of 101,347,500. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business has a 50 day simple moving average of $179.45 and a 200 day simple moving average of $212.21. Tesla, Inc. has a twelve month low of $147.21 and a twelve month high of $299.29. The firm has a market capitalization of $469.02 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 4.11 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. On average, analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’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 completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were 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 directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. 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. Mizuho reiterated a “neutral” rating and set a $195.00 price target (down from $270.00) on shares of Tesla in a research report on Monday, March 25th. Jefferies Financial Group decreased their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Piper Sandler dropped their target price on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Finally, Truist Financial dropped their price objective on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $194.70.

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.