Phoenix Wealth Advisors Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Phoenix Wealth Advisors lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,813 shares of the electric vehicle producer’s stock after selling 52 shares during the period. Phoenix Wealth Advisors’ holdings in Tesla were worth $732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Drucker Wealth 3.0 LLC bought a new position in Tesla during the 2nd quarter worth about $445,000. MBB Public Markets I LLC boosted its position in Tesla by 2,101.9% during the 2nd quarter. MBB Public Markets I LLC now owns 202,887 shares of the electric vehicle producer’s stock valued at $40,147,000 after acquiring an additional 193,673 shares in the last quarter. Scientech Research LLC purchased a new position in Tesla in the second quarter valued at about $1,833,000. Smith Thornton Advisors LLC bought a new position in shares of Tesla during the 2nd quarter worth approximately $233,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of Tesla by 60.4% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 2,181 shares of the electric vehicle producer’s stock valued at $432,000 after purchasing an additional 821 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred 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 owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $406.58 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a 50 day moving average price of $397.11 and a 200 day moving average price of $292.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company posted $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $313.84.

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.