Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 74.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 931 shares of the electric vehicle producer’s stock after selling 2,708 shares during the period. Hoey Investments Inc.’s holdings in Tesla were worth $376,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hengehold Capital Management LLC grew its holdings in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI grew its stake in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its holdings in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its position in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC lifted its holdings in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $263.55 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average of $321.33 and a 200-day moving average of $323.01.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Guggenheim cut their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Piper Sandler cut their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Robert W. Baird cut their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Royal Bank of Canada decreased their price target on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $318.34.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

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.