Tesla, Inc. (NASDAQ:TSLA) Stake Cut by Alcosta Capital Management Inc.

Alcosta Capital Management Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,093 shares of the electric vehicle producer’s stock after selling 421 shares during the period. Tesla accounts for approximately 4.3% of Alcosta Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Alcosta Capital Management Inc.’s holdings in Tesla were worth $7,307,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 10.4 %

Shares of NASDAQ TSLA opened at $239.43 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm has a market cap of $770.13 billion, a PE ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The business has a fifty day simple moving average of $305.98 and a two-hundred day simple moving average of $323.56. 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 released its quarterly earnings data 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%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company reduced their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Evercore ISI lifted their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $312.65.

Tesla Company 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.