Sageworth Trust Co Sells 2,479 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sageworth Trust Co trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 14.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,311 shares of the electric vehicle producer’s stock after selling 2,479 shares during the period. Tesla accounts for approximately 0.4% of Sageworth Trust Co’s investment portfolio, making the stock its 20th biggest position. Sageworth Trust Co’s holdings in Tesla were worth $5,779,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dock Street Asset Management Inc. bought a new position in shares of Tesla in the 4th quarter valued at $292,000. Realta Investment Advisors lifted its stake in shares of Tesla by 35.7% in the 4th quarter. Realta Investment Advisors now owns 15,761 shares of the electric vehicle producer’s stock valued at $6,469,000 after acquiring an additional 4,148 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Tesla during the 4th quarter worth $6,690,000. SMART Wealth LLC raised its position in Tesla by 661.0% during the 4th quarter. SMART Wealth LLC now owns 6,042 shares of the electric vehicle producer’s stock worth $2,440,000 after purchasing an additional 5,248 shares during the last quarter. Finally, Prairie Wealth Advisors Inc. raised its position in Tesla by 1.9% during the 4th quarter. Prairie Wealth Advisors Inc. now owns 3,658 shares of the electric vehicle producer’s stock worth $1,477,000 after purchasing an additional 69 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley increased their price target on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Guggenheim reiterated a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $321.71.

Tesla Trading Down 6.3 %

NASDAQ:TSLA opened at $328.50 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.06 trillion, a PE ratio of 161.03, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The firm’s 50 day moving average is $408.14 and its 200 day moving average is $305.46. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 635,776 shares of company stock worth $231,335,112. Corporate insiders own 20.70% of the company’s stock.

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.