Thompson Davis & CO. Inc. Sells 2,600 Shares of Tesla, Inc. (NASDAQ:TSLA)

Thompson Davis & CO. Inc. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 19.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,470 shares of the electric vehicle producer’s stock after selling 2,600 shares during the period. Tesla makes up approximately 2.2% of Thompson Davis & CO. Inc.’s holdings, making the stock its 6th biggest holding. Thompson Davis & CO. Inc.’s holdings in Tesla were worth $2,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Holderness Investments Co. grew its stake in shares of Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares in the last quarter. SCS Capital Management LLC lifted its holdings in shares of Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after buying an additional 45 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares in the last quarter. ML & R Wealth Management LLC lifted its holdings in shares of Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after buying an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc lifted its holdings in shares of Tesla by 3.5% during the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 46 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their target price on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Evercore ISI decreased their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday. Piper Sandler restated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $184.32.

Tesla Trading Down 5.6 %

TSLA traded down $10.77 during trading on Tuesday, hitting $183.28. The company’s stock had a trading volume of 126,403,453 shares, compared to its average volume of 105,362,438. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $174.71 and its 200-day moving average price is $206.29. The firm has a market capitalization of $584.52 billion, a P/E ratio of 46.76, a PEG ratio of 4.45 and a beta of 2.40.

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.