Fi3 FINANCIAL ADVISORS LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Fi3 FINANCIAL ADVISORS LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,018 shares of the electric vehicle producer’s stock after selling 112 shares during the period. Tesla accounts for about 0.5% of Fi3 FINANCIAL ADVISORS LLC’s investment portfolio, making the stock its 24th biggest position. Fi3 FINANCIAL ADVISORS LLC’s holdings in Tesla were worth $998,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Wyrmwood Management LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Lam Group Inc. bought a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC grew its stake in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. grew its stake in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. Finally, Cordant Inc. bought a new position in shares of Tesla during the third quarter valued at approximately $53,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Redburn Atlantic assumed coverage on Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective on the stock. Guggenheim restated a “sell” rating and set a $122.00 target price on shares of Tesla in a report on Tuesday, April 23rd. Canaccord Genuity Group lowered their target price on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $185.90.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $1.18 during midday trading on Friday, hitting $181.19. The company had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The business has a 50-day simple moving average of $173.85 and a two-hundred day simple moving average of $205.42. The firm has a market capitalization of $577.85 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 4.71 and a beta of 2.41.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 25.10% of the company’s stock.

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.