Tesla, Inc. (NASDAQ:TSLA) Stake Lowered by Gerber LLC

Gerber LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 39.1% during the 4th quarter, Holdings Channel reports. The fund owned 31,825 shares of the electric vehicle producer’s stock after selling 20,441 shares during the period. Tesla comprises about 9.4% of Gerber LLC’s portfolio, making the stock its largest position. Gerber LLC’s holdings in Tesla were worth $12,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. MGO Private Wealth LLC bought a new position in Tesla in the fourth quarter worth approximately $682,000. Phillips Financial Management LLC increased its holdings in shares of Tesla by 2.8% in the 4th quarter. Phillips Financial Management LLC now owns 3,408 shares of the electric vehicle producer’s stock valued at $1,376,000 after acquiring an additional 93 shares during the period. Elite Life Management LLC bought a new position in shares of Tesla in the 4th quarter worth $343,000. Impact Capital Partners LLC purchased a new stake in shares of Tesla during the 4th quarter worth $2,170,000. Finally, DecisionMap Wealth Management LLC bought a new stake in Tesla during the fourth quarter valued at about $1,063,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 target price on shares of Tesla in a research report on Tuesday. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $325.81.

Tesla Stock Performance

NASDAQ TSLA opened at $248.09 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock’s 50 day simple moving average is $357.29 and its 200-day simple moving average is $319.03. The company has a market cap of $797.99 billion, a PE ratio of 121.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

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.