Sienna Gestion Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Sienna Gestion lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 88.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,843 shares of the electric vehicle producer’s stock after selling 76,867 shares during the quarter. Sienna Gestion’s holdings in Tesla were worth $3,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $47,000. 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. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter valued at approximately $35,000. Finally, Rialto Wealth Management LLC purchased a new stake in Tesla during the 4th quarter valued at $55,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a report on Tuesday. Truist Financial upped 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. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Finally, Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $325.81.

Tesla Stock Performance

Tesla stock opened at $240.68 on Friday. 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 $774.15 billion, a PE ratio of 117.98, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a 50 day moving average price of $354.52 and a 200-day moving average price of $318.49. 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 (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. 20.70% of the stock is owned by insiders.

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.