SouthState Corp Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

SouthState Corp reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 414 shares of the electric vehicle producer’s stock after selling 65 shares during the quarter. SouthState Corp’s holdings in Tesla were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Tesla in the third quarter worth approximately $27,000. O Brien Wealth Partners LLC purchased a new stake in shares of Tesla during the third quarter valued at approximately $31,000. Laffer Tengler Investments raised its stake in shares of Tesla by 5,000.0% during the second quarter. Laffer Tengler Investments now owns 51 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Prentice Wealth Management LLC increased its stake in shares of Tesla by 1,766.7% in the second quarter. Prentice Wealth Management LLC now owns 56 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 53 shares during the last quarter. Finally, Evermay Wealth Management LLC bought a new stake in shares of Tesla in the second quarter worth $41,000. 40.97% of the stock is currently owned by institutional investors.

In other Tesla news, SVP Andrew D. Baglino sold 917 shares of the firm’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $980.47, for a total transaction of $899,090.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $864.31, for a total value of $6,050,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,292,621 shares of company stock valued at $4,500,554,314 over the last three months. Company insiders own 25.00% of the company’s stock.

Tesla stock opened at $1,049.61 on Friday. The firm’s 50-day moving average is $1,058.50 and its 200-day moving average is $870.69. The company has a market cap of $1.05 trillion, a P/E ratio of 339.68, a PEG ratio of 4.02 and a beta of 1.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.39. Tesla, Inc. has a 1 year low of $539.49 and a 1 year high of $1,243.49.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, October 19th. The electric vehicle producer reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.90. The company had revenue of $13.76 billion for the quarter, compared to analyst estimates of $13.70 billion. Tesla had a net margin of 7.40% and a return on equity of 13.81%. The company’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 4.42 earnings per share for the current year.

Several equities research analysts have commented on TSLA shares. Norddeutsche Landesbank reiterated a “sell” rating and issued a $380.00 price target on shares of Tesla in a research report on Tuesday, November 9th. Daiwa Capital Markets upped their target price on Tesla from $1,050.00 to $1,150.00 and gave the company a “neutral” rating in a report on Tuesday, January 4th. JPMorgan Chase & Co. set a $295.00 price target on Tesla and gave the company an “underweight” rating in a research note on Monday, January 3rd. Bank of America reissued a “hold” rating and issued a $1,200.00 price target on shares of Tesla in a research note on Tuesday, January 4th. Finally, UBS Group upped their price target on Tesla from $725.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Tuesday, December 7th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $900.94.

Tesla Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. It also provides vehicle service centers, Supercharger stations, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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