Abacus Wealth Partners LLC Has $1.21 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Abacus Wealth Partners LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,994 shares of the electric vehicle producer’s stock after selling 242 shares during the quarter. Tesla accounts for 0.2% of Abacus Wealth Partners LLC’s holdings, making the stock its 24th biggest holding. Abacus Wealth Partners LLC’s holdings in Tesla were worth $1,209,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Gemmer Asset Management LLC increased its stake in Tesla by 6.0% in the fourth quarter. Gemmer Asset Management LLC now owns 5,129 shares of the electric vehicle producer’s stock valued at $2,071,000 after acquiring an additional 290 shares during the last quarter. Lee Johnson Capital Management LLC increased its stake in shares of Tesla by 1.7% in the 4th quarter. Lee Johnson Capital Management LLC now owns 16,385 shares of the electric vehicle producer’s stock valued at $6,617,000 after purchasing an additional 270 shares during the last quarter. McCarthy & Cox acquired a new position in shares of Tesla during the 4th quarter worth $269,000. Flower City Capital lifted its position in shares of Tesla by 15.2% during the 4th quarter. Flower City Capital now owns 961 shares of the electric vehicle producer’s stock worth $388,000 after buying an additional 127 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Tesla by 31.7% in the fourth quarter. UMB Bank n.a. now owns 151,336 shares of the electric vehicle producer’s stock valued at $61,116,000 after buying an additional 36,409 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $415.11 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company’s 50-day moving average is $393.38 and its 200-day moving average is $291.27. The stock has a market capitalization of $1.33 trillion, a PE ratio of 113.73, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 business 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%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $31,548,461.84. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock worth $212,451,751 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TSLA shares. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Cantor Fitzgerald increased their price objective on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $309.48.

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.