Center For Asset Management LLC Sells 130 Shares of Tesla, Inc. (NASDAQ:TSLA)

Center For Asset Management LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,235 shares of the electric vehicle producer’s stock after selling 130 shares during the period. Center For Asset Management LLC’s holdings in Tesla were worth $903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. raised its stake in Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock worth $212,451,751 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $389.10 on Thursday. The firm has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.60, a PEG ratio of 8.42 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $401.04 and its 200-day moving average price is $296.63. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. Equities research analysts forecast that Tesla, Inc. will post 2.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research report on Monday, January 6th. Piper Sandler upped their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $313.84.

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.