Allegiance Financial Group Advisory Services LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Allegiance Financial Group Advisory Services LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 37.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,862 shares of the electric vehicle producer’s stock after selling 1,133 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Tesla were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB raised its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the period. Foundation Wealth Management LLC bought a new position in Tesla in the 3rd quarter worth $225,000. JFS Wealth Advisors LLC raised its holdings in Tesla by 75.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,014 shares of the electric vehicle producer’s stock worth $527,000 after purchasing an additional 864 shares during the period. HM Payson & Co. raised its holdings in Tesla by 16.7% in the 3rd quarter. HM Payson & Co. now owns 4,624 shares of the electric vehicle producer’s stock worth $1,210,000 after purchasing an additional 662 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC raised its holdings in Tesla by 21.6% in the 3rd quarter. Baron Silver Stevens Financial Advisors LLC now owns 3,773 shares of the electric vehicle producer’s stock worth $987,000 after purchasing an additional 671 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 4.0 %

Shares of NASDAQ:TSLA opened at $293.33 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business has a 50 day simple moving average of $385.35 and a two-hundred day simple moving average of $315.95. The firm has a market capitalization of $943.49 billion, a PE ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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 the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Jefferies Financial Group raised their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $318.77.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’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 owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last 90 days. Company insiders own 20.70% of the company’s stock.

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.