Cascade Financial Partners LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cascade Financial Partners LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,109 shares of the electric vehicle producer’s stock after selling 760 shares during the period. Tesla comprises approximately 1.3% of Cascade Financial Partners LLC’s holdings, making the stock its 16th biggest holding. Cascade Financial Partners LLC’s holdings in Tesla were worth $9,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Geode Capital Management LLC grew its holdings in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares in the last quarter. FMR LLC increased its position in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tesla by 13.7% in the 3rd 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after purchasing an additional 780,026 shares during the last quarter. Finally, Amundi increased its position in shares of Tesla by 1.2% in the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock worth $5,117,345,000 after purchasing an additional 159,508 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $230.58 on Wednesday. The company’s fifty day moving average is $360.40 and its 200-day moving average is $319.53. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market cap of $741.66 billion, a price-to-earnings ratio of 113.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 422,452 shares of company stock valued at $153,659,530. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price objective on shares of Tesla in a research report on Tuesday. Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Robert W. Baird lowered their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $326.43.

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.