Clifford Swan Investment Counsel LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clifford Swan Investment Counsel LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,082 shares of the electric vehicle producer’s stock after selling 51 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Tesla were worth $1,649,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the 4th quarter worth approximately $46,000. PayPay Securities Corp raised its holdings in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Finley Financial LLC purchased a new position in Tesla in the 4th quarter worth approximately $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 403,996 shares of company stock valued at $153,721,387 in the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $284.65 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $915.58 billion, a P/E ratio of 139.53, a P/E/G ratio of 5.86 and a beta of 2.34. The firm’s fifty day moving average is $382.44 and its two-hundred day moving average is $318.01. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 net margin of 7.26% and a return on equity of 10.31%. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TSLA shares. Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Robert W. Baird decreased their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $318.77.

Tesla 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.