Ausdal Financial Partners Inc. Sells 1,289 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ausdal Financial Partners Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,312 shares of the electric vehicle producer’s stock after selling 1,289 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Tesla were worth $8,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. World Investment Advisors LLC boosted its stake in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management boosted its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the period. Finally, MML Investors Services LLC boosted its holdings in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Truist Financial boosted their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Finally, Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $318.93.

Tesla Stock Up 3.4 %

NASDAQ:TSLA opened at $287.95 on Wednesday. The firm has a 50-day simple moving average of $330.52 and a two-hundred day simple moving average of $322.04. The firm has a market cap of $926.20 billion, a P/E ratio of 141.15, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.