Tesla, Inc. (NASDAQ:TSLA) is Strong Tower Advisory Services’ 8th Largest Position

Strong Tower Advisory Services cut its position in Tesla, Inc. (NASDAQ:TSLA) by 13.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,661 shares of the electric vehicle producer’s stock after selling 4,861 shares during the period. Tesla makes up about 3.4% of Strong Tower Advisory Services’ investment portfolio, making the stock its 8th largest holding. Strong Tower Advisory Services’ holdings in Tesla were worth $7,619,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TSLA. Contravisory Investment Management Inc. purchased a new position in shares of Tesla during the third quarter valued at approximately $25,000. Wyrmwood Management LLC bought a new stake in Tesla during the fourth quarter valued at approximately $25,000. Halpern Financial Inc. grew its position in Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Tesla during the third quarter valued at approximately $27,000. Finally, MayTech Global Investments LLC bought a new stake in Tesla during the fourth quarter valued at approximately $30,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock worth $36,952,434 in the last three months. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSLA shares. Jefferies Financial Group cut their target price on shares of Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, January 29th. Wells Fargo & Company lowered shares of Tesla from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $200.00 to $125.00 in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $218.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $204.63.

Tesla Trading Down 2.2 %

TSLA stock opened at $175.79 on Friday. The company has a market capitalization of $559.85 billion, a PE ratio of 40.79, a P/E/G ratio of 4.06 and a beta of 2.41. Tesla, Inc. has a 12 month low of $152.37 and a 12 month high of $299.29. The firm’s 50-day moving average is $187.78 and its 200 day moving average is $222.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 2.44 EPS for the current 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.