American Money Management LLC Sells 598 Shares of Tesla, Inc. (NASDAQ:TSLA)

American Money Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 36.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,054 shares of the electric vehicle producer’s stock after selling 598 shares during the period. American Money Management LLC’s holdings in Tesla were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PARUS FINANCE UK Ltd boosted its holdings in shares of Tesla by 148.0% during the 4th quarter. PARUS FINANCE UK Ltd now owns 14,529 shares of the electric vehicle producer’s stock worth $5,867,000 after buying an additional 8,670 shares during the period. Allianz SE acquired a new stake in Tesla during the fourth quarter worth approximately $43,531,000. Tucker Asset Management LLC boosted its holdings in shares of Tesla by 20.0% during the fourth quarter. Tucker Asset Management LLC now owns 4,870 shares of the electric vehicle producer’s stock worth $1,967,000 after acquiring an additional 812 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Tesla during the fourth quarter worth approximately $188,000. Finally, Intrust Bank NA lifted its holdings in Tesla by 11.0% during the 4th quarter. Intrust Bank NA now owns 11,806 shares of the electric vehicle producer’s stock worth $4,768,000 after purchasing an additional 1,170 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSLA shares. HSBC lowered their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a report on Wednesday, March 19th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada lowered their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.34.

Tesla Price Performance

Tesla stock opened at $263.55 on Friday. The stock’s 50 day moving average is $321.33 and its 200 day moving average is $322.34. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market cap of $847.71 billion, a P/E ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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 analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

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.