Armstrong Advisory Group Inc. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Armstrong Advisory Group Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 39.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 708 shares of the electric vehicle producer’s stock after selling 470 shares during the period. Armstrong Advisory Group Inc.’s holdings in Tesla were worth $286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bradley Foster & Sargent Inc. CT boosted its position in Tesla by 36.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after buying an additional 747 shares during the period. Seven Eight Capital LP purchased a new position in shares of Tesla during the 2nd quarter worth approximately $1,680,000. Sienna Gestion raised its holdings in Tesla by 0.6% in the second quarter. Sienna Gestion now owns 68,542 shares of the electric vehicle producer’s stock worth $13,557,000 after purchasing an additional 405 shares in the last quarter. Paces Ferry Wealth Advisors LLC increased its stake in shares of Tesla by 8.4% in the 2nd quarter. Paces Ferry Wealth Advisors LLC now owns 4,370 shares of the electric vehicle producer’s stock worth $865,000 after acquiring an additional 340 shares in the last quarter. Finally, Intrepid Financial Planning Group LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $223,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 in the last quarter. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus upped their target price on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Stock Down 3.4 %

NASDAQ TSLA opened at $413.82 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $385.50 and its 200 day moving average is $285.69. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $1.33 trillion, a PE ratio of 113.38, a P/E/G ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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 business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Tesla Company 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.