Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sherrill & Hutchins Financial Advisory Inc

Sherrill & Hutchins Financial Advisory Inc cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 50.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,517 shares of the electric vehicle producer’s stock after selling 1,541 shares during the quarter. Tesla comprises 0.5% of Sherrill & Hutchins Financial Advisory Inc’s holdings, making the stock its 7th biggest position. Sherrill & Hutchins Financial Advisory Inc’s holdings in Tesla were worth $613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter worth approximately $35,000. Finally, M&R Capital Management Inc. boosted its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Performance

TSLA opened at $428.22 on Thursday. The firm has a market cap of $1.37 trillion, a P/E ratio of 117.32, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 business’s fifty day moving average is $382.71 and its 200-day moving average is $284.69.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (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 analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by corporate insiders.

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.