Financial Counselors Inc. Has $71.10 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Financial Counselors Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 176,068 shares of the electric vehicle producer’s stock after selling 6,384 shares during the period. Tesla makes up about 1.0% of Financial Counselors Inc.’s holdings, making the stock its 18th largest position. Financial Counselors Inc.’s holdings in Tesla were worth $71,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC grew its position in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after buying an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% during 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 purchasing an additional 2,946,763 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $287.95 on Wednesday. The business has a 50-day simple moving average of $330.52 and a 200 day simple moving average of $322.04. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market cap of $926.20 billion, a price-to-earnings ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. Royal Bank of Canada dropped their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley dropped their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Robert W. Baird decreased their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $318.93.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 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.