LM Advisors LLC Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

LM Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,107 shares of the electric vehicle producer’s stock after selling 98 shares during the period. LM Advisors LLC’s holdings in Tesla were worth $3,678,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Principal Financial Group Inc. lifted its position in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank acquired a new position in shares of Tesla during the third quarter worth approximately $287,000. Quantbot Technologies LP bought a new position in Tesla in the 3rd quarter worth approximately $687,000. Insight Wealth Partners LLC increased its position in Tesla by 4.9% in the 3rd quarter. Insight Wealth Partners LLC now owns 1,441 shares of the electric vehicle producer’s stock valued at $377,000 after acquiring an additional 67 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in Tesla by 34.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after acquiring an additional 12,955 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Trading Down 5.6 %

Shares of Tesla stock opened at $272.06 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a fifty day moving average price of $327.40 and a 200-day moving average price of $321.69. The firm has a market cap of $875.09 billion, a PE ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Morgan Stanley decreased their price target on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $318.93.

Tesla 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.