Chesley Taft & Associates LLC Has $1.13 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Chesley Taft & Associates LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 11.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,807 shares of the electric vehicle producer’s stock after selling 360 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Tesla were worth $1,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Tesla by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 4,754,950 shares of the electric vehicle producer’s stock valued at $941,050,000 after buying an additional 459,704 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new position in shares of Tesla in the second quarter valued at about $445,000. DoubleLine ETF Adviser LP bought a new position in shares of Tesla in the second quarter valued at about $14,152,000. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Tesla by 252.1% in the second quarter. Daymark Wealth Partners LLC now owns 33,432 shares of the electric vehicle producer’s stock valued at $6,616,000 after buying an additional 23,938 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on TSLA. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Royal Bank of Canada boosted their price objective on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Truist Financial reissued a “hold” rating and set a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Finally, Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $309.48.

Tesla Trading Down 0.7 %

NASDAQ TSLA opened at $412.38 on Friday. The company has a market cap of $1.32 trillion, a PE ratio of 112.98, a PEG ratio of 8.55 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a 50 day moving average of $395.08 and a 200-day moving average of $292.13.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.01 EPS 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.