Tesla, Inc. (NASDAQ:TSLA) Position Lessened by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,929 shares of the electric vehicle producer’s stock after selling 455 shares during the period. Tesla comprises approximately 0.0% of Koshinski Asset Management Inc.’s portfolio, making the stock its 22nd biggest holding. Koshinski Asset Management Inc.’s holdings in Tesla were worth $8,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at about $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Tesla during the third quarter valued at about $35,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $415.11 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a 50 day moving average of $393.38 and a 200-day moving average of $291.27. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.33 trillion, a P/E ratio of 113.73, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 617,886 shares of company stock worth $212,451,751. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TSLA shares. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Robert W. Baird raised their target price on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $309.48.

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.