Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 44,472 shares of the electric vehicle producer’s stock after selling 894 shares during the period. Tesla makes up about 1.4% of Twin Capital Management Inc.’s holdings, making the stock its 9th largest position. Twin Capital Management Inc.’s holdings in Tesla were worth $11,050,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Lam Group Inc. purchased a new position in Tesla in the fourth quarter worth $25,000. Alpha Paradigm Partners LLC purchased a new position in Tesla in the third quarter worth $27,000. Perkins Coie Trust Co boosted its position in Tesla by 72.0% in the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 54 shares during the last quarter. Finally, Mendota Financial Group LLC boosted its position in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut Tesla from a “buy” rating to a “hold” rating and cut their price objective for the stock from $189.00 to $123.00 in a research report on Thursday. Sanford C. Bernstein cut their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. The Goldman Sachs Group cut their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Wedbush cut their price objective on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. Finally, Truist Financial lowered their target price on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $194.70.

Tesla Price Performance

Tesla stock traded down $5.23 during midday trading on Thursday, hitting $150.22. 64,955,652 shares of the company’s stock were exchanged, compared to its average volume of 101,401,805. Tesla, Inc. has a 52-week low of $148.70 and a 52-week high of $299.29. The stock has a 50-day moving average price of $180.24 and a two-hundred day moving average price of $212.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company has a market cap of $478.42 billion, a P/E ratio of 35.25, a PEG ratio of 4.15 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its 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 business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

About Tesla

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.