Weatherly Asset Management L. P. Sells 96 Shares of Tesla, Inc. (NASDAQ:TSLA)

Weatherly Asset Management L. P. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 15,171 shares of the electric vehicle producer’s stock after selling 96 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Tesla were worth $3,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares during the period. Morgan Stanley raised its holdings in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. FMR LLC raised its holdings in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the period. Northern Trust Corp raised its holdings in shares of Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Tesla by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock worth $3,677,502,000 after acquiring an additional 496,299 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Mizuho reiterated a “neutral” rating and issued a $195.00 price target (down from $270.00) on shares of Tesla in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft lowered shares of Tesla from a “buy” rating to a “hold” rating and lowered their price target for the company from $189.00 to $123.00 in a research note on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research note on Friday. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $194.33.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA traded up $2.63 during trading on Tuesday, reaching $144.68. The company’s stock had a trading volume of 119,642,343 shares, compared to its average volume of 101,872,688. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The firm has a 50 day moving average price of $177.59 and a 200 day moving average price of $210.05.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

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.