Edge Capital Group LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Edge Capital Group LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,691 shares of the electric vehicle producer’s stock after selling 39 shares during the quarter. Edge Capital Group LLC’s holdings in Tesla were worth $1,491,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC grew its stake in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 13.7% in the 3rd 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 acquiring an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after acquiring an additional 301,968 shares during the period. Finally, Jennison Associates LLC grew its stake in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $290.80 on Thursday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $935.36 billion, a PE ratio of 142.55, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a 50-day simple moving average of $390.99 and a 200-day simple moving average of $315.51.

Tesla (NASDAQ:TSLA) last announced 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Mizuho reaffirmed an “outperform” rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is currently owned by corporate 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.