Fermata Advisors LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fermata Advisors LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,665 shares of the electric vehicle producer’s stock after selling 31 shares during the quarter. Fermata Advisors LLC’s holdings in Tesla were worth $1,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC increased its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management grew its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC raised its holdings in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Friday. The stock has a 50 day moving average price of $387.84 and a 200 day moving average price of $286.58. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. Wells Fargo & Company raised their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $299.33.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last three months. Company insiders own 20.70% of the company’s stock.

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.