United Asset Strategies Inc. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

United Asset Strategies Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,791 shares of the electric vehicle producer’s stock after selling 835 shares during the period. United Asset Strategies Inc.’s holdings in Tesla were worth $2,433,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter valued at $3,459,540,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. Bank of New York Mellon Corp increased its stake in Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after buying an additional 13,558,882 shares during the period. International Assets Investment Management LLC lifted its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares in the last quarter. Finally, Morgan Stanley boosted its position in Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after buying an additional 5,292,464 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and set a $298.00 target price on shares of Tesla in a research note on Wednesday, March 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Truist Financial cut their price objective on shares of Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $198.81.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $4.60 during midday trading on Tuesday, hitting $156.88. The stock had a trading volume of 59,779,438 shares, compared to its average volume of 101,625,000. Tesla, Inc. has a 1 year low of $152.37 and a 1 year high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $181.44 and a two-hundred day moving average price of $213.70. The company has a market capitalization of $499.63 billion, a PE ratio of 36.36, a P/E/G ratio of 4.50 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. Company insiders own 20.90% of the company’s stock.

About Tesla

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.