MADDEN SECURITIES Corp Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

MADDEN SECURITIES Corp cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,165 shares of the electric vehicle producer’s stock after selling 2,070 shares during the period. Tesla accounts for about 1.8% of MADDEN SECURITIES Corp’s portfolio, making the stock its 14th largest position. MADDEN SECURITIES Corp’s holdings in Tesla were worth $4,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TSLA. World Investment Advisors LLC boosted its position in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management boosted its holdings in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Stephens Consulting LLC raised its holdings in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 0.0 %

Shares of NASDAQ TSLA opened at $355.84 on Friday. The stock has a fifty day simple moving average of $406.98 and a 200-day simple moving average of $306.79. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market capitalization of $1.14 trillion, a PE ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Mizuho reiterated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Benchmark initiated coverage on Tesla in a research report on Wednesday. They set a “buy” rating and a $475.00 price target for the company. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Wednesday. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $326.50.

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.