United Asset Strategies Inc. Sells 835 Shares of Tesla, Inc. (NASDAQ:TSLA)

United Asset Strategies Inc. trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,791 shares of the electric vehicle producer’s stock after selling 835 shares during the quarter. United Asset Strategies Inc.’s holdings in Tesla were worth $2,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after acquiring an additional 350 shares during the period. Oak Ridge Investments LLC boosted its position in Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after purchasing an additional 1,405 shares during the last quarter. CWM LLC grew its stake in shares of Tesla by 14.4% during the 3rd quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after purchasing an additional 18,462 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Tesla by 3.7% in the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler reduced their target price on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Citigroup cut their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, Wedbush cut their price objective on Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $198.81.

Tesla Trading Down 2.8 %

TSLA traded down $4.60 on Tuesday, hitting $156.88. The company had a trading volume of 59,779,438 shares, compared to its average volume of 101,625,000. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $181.44 and its 200 day simple moving average is $213.70. The company has a market cap of $499.63 billion, a PE ratio of 36.36, a PEG ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. Equities research analysts expect that Tesla, Inc. will post 1.98 EPS for the current 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.