HCR Wealth Advisors Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

HCR Wealth Advisors lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,259 shares of the electric vehicle producer’s stock after selling 93 shares during the quarter. Tesla makes up about 0.7% of HCR Wealth Advisors’ portfolio, making the stock its 18th biggest holding. HCR Wealth Advisors’ holdings in Tesla were worth $5,759,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the second 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 purchased a new position in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $35,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSLA shares. Royal Bank of Canada upped their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Cantor Fitzgerald lifted their price objective on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Truist Financial reissued a “hold” rating and set a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Finally, Barclays raised their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $299.33.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents 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 this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock valued at $213,451,751 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 3.4 %

NASDAQ:TSLA opened at $413.82 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market cap of $1.33 trillion, a PE ratio of 113.38, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. 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 has a fifty day moving average price of $385.50 and a 200 day moving average price of $285.69.

Tesla (NASDAQ:TSLA) last announced 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 business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 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.