Edgestream Partners L.P. Sells 7,627 Shares of Tesla, Inc. (NASDAQ:TSLA)

Edgestream Partners L.P. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 43.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,865 shares of the electric vehicle producer’s stock after selling 7,627 shares during the period. Edgestream Partners L.P.’s holdings in Tesla were worth $3,984,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp lifted its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Finally, Finley Financial LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $64,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.3 %

Shares of TSLA opened at $262.67 on Friday. The stock’s 50-day moving average price is $367.78 and its two-hundred day moving average price is $318.71. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $844.88 billion, a PE ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TSLA shares. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $327.37.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,452 shares of company stock valued at $153,659,530. Corporate insiders own 20.70% 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.