Tesla, Inc. (NASDAQ:TSLA) Holdings Reduced by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,883 shares of the electric vehicle producer’s stock after selling 126 shares during the period. GLOBALT Investments LLC GA’s holdings in Tesla were worth $4,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla in the 4th quarter worth about $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp lifted its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth approximately $55,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $249.98 on Monday. The company’s fifty day moving average is $351.31 and its 200-day moving average is $320.31. 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 $804.06 billion, a price-to-earnings ratio of 122.54, 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $325.65.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last 90 days. 20.70% of the stock is owned by insiders.

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.