AdvisorNet Financial Inc Sells 6,220 Shares of Tesla, Inc. (NASDAQ:TSLA)

AdvisorNet Financial Inc lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,093 shares of the electric vehicle producer’s stock after selling 6,220 shares during the quarter. AdvisorNet Financial Inc’s holdings in Tesla were worth $5,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TSLA. Connable Office Inc. raised its stake in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. raised its position in shares of Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners lifted its stake in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the period. Finally, Altman Advisors Inc. increased its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $403.31 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market capitalization of $1.29 trillion, a PE ratio of 110.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The stock’s fifty day moving average is $379.81 and its two-hundred day moving average is $283.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. As a group, analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. The Goldman Sachs Group upped their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Cantor Fitzgerald upped their price target on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $296.60.

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.