Procyon Advisors LLC Has $8.24 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Procyon Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,170 shares of the electric vehicle producer’s stock after purchasing an additional 231 shares during the quarter. Procyon Advisors LLC’s holdings in Tesla were worth $8,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the period. State Street Corp raised its holdings in Tesla by 4.4% in the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after purchasing an additional 4,431,570 shares during the period. Morgan Stanley boosted its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. FMR LLC grew its holdings in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares during the period. Finally, Norges Bank acquired a new position in Tesla in the fourth quarter valued at about $3,459,540,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. The Goldman Sachs Group lowered their price objective on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Guggenheim increased their price objective on Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a report on Friday, December 15th. TD Cowen cut their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Piper Sandler lowered their price objective on shares of Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 5th. Finally, Sanford C. Bernstein reduced their target price on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.63.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock worth $36,952,434 in the last 90 days. Company insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA traded down $3.22 during midday trading on Thursday, reaching $176.61. 16,357,528 shares of the stock were exchanged, compared to its average volume of 101,620,773. The stock’s 50 day simple moving average is $188.49 and its 200 day simple moving average is $222.36. The company has a market cap of $562.47 billion, a P/E ratio of 41.72, a PEG ratio of 4.01 and a beta of 2.41. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.44 earnings per share for the current 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.