Latitude Advisors LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Latitude Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,484 shares of the electric vehicle producer’s stock after selling 288 shares during the quarter. Latitude Advisors LLC’s holdings in Tesla were worth $599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hengehold Capital Management LLC boosted its position 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 last quarter. Strategic Investment Advisors MI lifted its stake in Tesla by 0.3% in 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 in the last quarter. Acropolis Investment Management LLC grew its position in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its holdings in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC lifted its position in shares of Tesla by 0.3% in the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $326.50.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 0.0 %

Tesla stock opened at $355.84 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The business has a fifty day moving average of $406.98 and a two-hundred day moving average of $306.79. The firm has a market cap of $1.14 trillion, a P/E ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34. 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 posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

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.