Tesla, Inc. (NASDAQ:TSLA) Stake Lessened by Morling Financial Advisors LLC

Morling Financial Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 841 shares of the electric vehicle producer’s stock after selling 222 shares during the period. Morling Financial Advisors LLC’s holdings in Tesla were worth $340,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its holdings in shares of Tesla by 121.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 58,972 shares of the electric vehicle producer’s stock worth $23,815,000 after acquiring an additional 32,395 shares in the last quarter. Palisades Hudson Asset Management L.P. acquired a new position in Tesla during the fourth quarter worth $550,000. Sage Mountain Advisors LLC increased its position in Tesla by 8.1% during the fourth quarter. Sage Mountain Advisors LLC now owns 25,317 shares of the electric vehicle producer’s stock worth $10,224,000 after buying an additional 1,893 shares during the last quarter. S&CO Inc. increased its position in Tesla by 21.1% during the fourth quarter. S&CO Inc. now owns 4,595 shares of the electric vehicle producer’s stock worth $1,855,000 after buying an additional 800 shares during the last quarter. Finally, Retirement Capital Strategies increased its position in Tesla by 58.7% during the fourth quarter. Retirement Capital Strategies now owns 3,487 shares of the electric vehicle producer’s stock worth $1,408,000 after buying an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 422,452 shares of company stock valued at $153,659,530. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TSLA shares. Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group raised their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, UBS Group lowered their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $326.31.

Tesla Stock Performance

Shares of Tesla stock opened at $222.15 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $714.55 billion, a P/E ratio of 108.90, a P/E/G ratio of 5.86 and a beta of 2.50. The firm has a 50 day simple moving average of $363.87 and a 200 day simple moving average of $319.46. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.