VisionPoint Advisory Group LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

VisionPoint Advisory Group LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 74.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257 shares of the electric vehicle producer’s stock after selling 739 shares during the period. VisionPoint Advisory Group LLC’s holdings in Tesla were worth $97,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisory Group Advisory Services LLC lifted its stake in shares of Tesla by 10.6% in the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 2,774 shares of the electric vehicle producer’s stock worth $1,120,000 after acquiring an additional 266 shares in the last quarter. Lane & Associates LLC increased its holdings in Tesla by 29.2% during the 4th quarter. Lane & Associates LLC now owns 1,496 shares of the electric vehicle producer’s stock worth $605,000 after purchasing an additional 338 shares during the last quarter. Transcend Capital Advisors LLC raised its position in shares of Tesla by 4.0% in the 4th quarter. Transcend Capital Advisors LLC now owns 16,299 shares of the electric vehicle producer’s stock valued at $6,582,000 after purchasing an additional 630 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its stake in shares of Tesla by 163.9% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 966 shares of the electric vehicle producer’s stock valued at $390,000 after buying an additional 600 shares during the last quarter. Finally, Compass Capital Corp MA ADV acquired a new stake in shares of Tesla during the fourth quarter worth approximately $1,505,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 2.2 %

Tesla stock opened at $330.53 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s fifty day simple moving average is $397.52 and its 200-day simple moving average is $314.96. The company has a market capitalization of $1.06 trillion, a P/E ratio of 162.03, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Stifel Nicolaus decreased their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $319.57.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last quarter. Insiders own 20.70% of the company’s stock.

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.