Davies Financial Advisors Inc. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Davies Financial Advisors Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 25.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,672 shares of the electric vehicle producer’s stock after selling 928 shares during the period. Tesla accounts for approximately 0.9% of Davies Financial Advisors Inc.’s holdings, making the stock its 26th largest position. Davies Financial Advisors Inc.’s holdings in Tesla were worth $1,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TSLA. Sfmg LLC boosted its holdings in Tesla by 0.9% in the 2nd quarter. Sfmg LLC now owns 11,918 shares of the electric vehicle producer’s stock worth $2,358,000 after buying an additional 106 shares during the period. Wescott Financial Advisory Group LLC boosted its stake in shares of Tesla by 8.0% in the second quarter. Wescott Financial Advisory Group LLC now owns 2,002 shares of the electric vehicle producer’s stock worth $396,000 after acquiring an additional 149 shares during the period. Kingfisher Capital LLC purchased a new stake in shares of Tesla during the second quarter worth about $1,290,000. Alight Capital Management LP bought a new stake in Tesla during the 2nd quarter valued at approximately $1,979,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock opened at $415.11 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market capitalization of $1.33 trillion, a PE ratio of 113.73, a P/E/G ratio of 8.60 and a beta of 2.30. The company has a 50 day moving average price of $393.38 and a 200-day moving average price of $291.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 over the last three months. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Guggenheim lifted their price target on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday, December 5th. Wedbush increased their price objective on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $309.48.

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.