Fairscale Capital LLC Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Fairscale Capital LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,216 shares of the electric vehicle producer’s stock after selling 92 shares during the period. Tesla makes up about 1.8% of Fairscale Capital LLC’s holdings, making the stock its 11th biggest position. Fairscale Capital LLC’s holdings in Tesla were worth $2,106,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird reduced their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Jefferies Financial Group lifted their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Mizuho restated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $327.37.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock worth $153,659,530 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $262.67 on Monday. The company has a market cap of $844.88 billion, a P/E ratio of 128.76, a P/E/G ratio of 5.86 and a beta of 2.50. The firm’s 50 day moving average is $367.78 and its two-hundred day moving average is $319.38. 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 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.