Tesla, Inc. (NASDAQ:TSLA) Stock Position Reduced by Souders Financial Advisors

Souders Financial Advisors cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,361 shares of the electric vehicle producer’s stock after selling 459 shares during the period. Souders Financial Advisors’ holdings in Tesla were worth $2,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new stake in Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla in the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp lifted its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Finley Financial LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This represents a 20.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 422,386 shares of company stock valued at $153,916,675. 20.70% of the stock is owned by insiders.

Tesla Stock Up 2.6 %

TSLA opened at $279.10 on Thursday. The firm’s 50-day simple moving average is $374.97 and its 200-day simple moving average is $318.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $897.73 billion, a price-to-earnings ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Stifel Nicolaus reduced their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Wedbush set a $302.80 price objective on shares of Tesla in a research note on Wednesday, February 26th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Piper Sandler boosted their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $315.33.

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.