HBW Advisory Services LLC Sells 888 Shares of Tesla, Inc. (NASDAQ:TSLA)

HBW Advisory Services LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 18,417 shares of the electric vehicle producer’s stock after selling 888 shares during the quarter. Tesla comprises approximately 1.0% of HBW Advisory Services LLC’s investment portfolio, making the stock its 19th biggest position. HBW Advisory Services LLC’s holdings in Tesla were worth $7,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC increased its stake in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of TSLA traded up $0.71 during trading hours on Friday, hitting $395.65. 50,792,466 shares of the company were exchanged, compared to its average volume of 81,579,945. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.40, a P/E/G ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $373.68 and its 200 day moving average is $279.12.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSLA. Morgan Stanley raised their target price on Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Friday, January 3rd. Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Finally, Truist Financial reiterated a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. Nine 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $295.69.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock worth $213,451,751 in the last ninety days. 20.70% of the stock is owned by insiders.

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.