TCTC Holdings LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

TCTC Holdings LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 44.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 800 shares of the electric vehicle producer’s stock after selling 650 shares during the quarter. TCTC Holdings LLC’s holdings in Tesla were worth $141,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. Lam Group Inc. purchased a new position in Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC grew its holdings in shares of 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. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter worth about $37,000. Kathleen S. Wright Associates Inc. lifted its holdings in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. Finally, Guardian Wealth Management Inc. purchased a new stake in Tesla in the 4th quarter valued at about $47,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA traded down $10.03 on Friday, reaching $239.20. 87,403,903 shares of the stock were exchanged, compared to its average volume of 121,911,872. The company’s 50-day moving average price is $200.12 and its 200 day moving average price is $191.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $762.86 billion, a PE ratio of 61.02, a PEG ratio of 6.22 and a beta of 2.31. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $280.93.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Wednesday, April 24th. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Finally, Jefferies Financial Group dropped their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $203.03.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% 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.