JFS Wealth Advisors LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

JFS Wealth Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,356 shares of the electric vehicle producer’s stock after selling 658 shares during the period. JFS Wealth Advisors LLC’s holdings in Tesla were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TSLA. Swedbank AB boosted its stake in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Courier Capital LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at about $262,000. Wallington Asset Management LLC bought a new position in shares of Tesla during the third quarter worth about $280,000. RAM Investment Partners LLC grew its stake in Tesla by 1.4% in the third quarter. RAM Investment Partners LLC now owns 4,108 shares of the electric vehicle producer’s stock worth $1,075,000 after purchasing an additional 58 shares in the last quarter. Finally, McAdam LLC increased its holdings in Tesla by 1.4% in the third quarter. McAdam LLC now owns 7,232 shares of the electric vehicle producer’s stock valued at $1,892,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research report on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $326.50.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 in the last three months. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $354.40 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $402.14 and a two-hundred day moving average of $311.43. The company has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 173.73, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.