Ladenburg Thalmann Financial Services Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,447 shares of the electric vehicle producer’s stock after selling 8,449 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Tesla were worth $7,613,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Raymond James & Associates increased its position in Tesla by 7.2% during the fourth quarter. Raymond James & Associates now owns 68,714 shares of the electric vehicle producer’s stock worth $21,394,000 after buying an additional 4,634 shares in the last quarter. California State Teachers Retirement System increased its position in Tesla by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 220,344 shares of the electric vehicle producer’s stock worth $68,604,000 after buying an additional 2,886 shares in the last quarter. Avestar Capital LLC purchased a new position in Tesla during the fourth quarter worth $144,000. Morgens Waterfall Vintiadis & Co. Inc. increased its position in Tesla by 7.9% during the fourth quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 13,050 shares of the electric vehicle producer’s stock worth $4,063,000 after buying an additional 950 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in Tesla by 21.0% during the fourth quarter. Guggenheim Capital LLC now owns 44,277 shares of the electric vehicle producer’s stock worth $13,785,000 after buying an additional 7,682 shares in the last quarter. 58.19% of the stock is owned by hedge funds and other institutional investors.
In other Tesla news, VP Eric Branderiz sold 801 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total value of $284,018.58. Following the transaction, the vice president now directly owns 1,287 shares of the company’s stock, valued at $456,344.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Douglas Field sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $321.41, for a total value of $321,410.00. Following the completion of the transaction, the vice president now directly owns 20,561 shares in the company, valued at $6,608,511.01. The disclosure for this sale can be found here. Insiders sold 4,654 shares of company stock worth $1,559,211 over the last three months. 23.10% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on TSLA. BidaskClub raised Tesla from a “strong sell” rating to a “sell” rating in a research report on Friday. ValuEngine cut Tesla from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. KeyCorp restated a “hold” rating on shares of Tesla in a report on Wednesday. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $327.47 price objective on the stock. in a report on Thursday. Finally, Dougherty & Co raised their price objective on Tesla from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Thirteen equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Tesla presently has an average rating of “Hold” and an average target price of $313.57.
NASDAQ:TSLA traded down $6.42 during mid-day trading on Friday, hitting $299.30. The company had a trading volume of 13,520,286 shares, compared to its average volume of 10,129,047. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.56. Tesla, Inc. has a 1 year low of $244.59 and a 1 year high of $389.61. The firm has a market capitalization of $50,557.75, a PE ratio of -26.07 and a beta of 1.19.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) EPS for the quarter, beating the consensus estimate of ($3.12) by $0.08. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company posted ($0.69) earnings per share. The firm’s revenue was up 43.9% compared to the same quarter last year. equities analysts anticipate that Tesla, Inc. will post -15.15 EPS for the current year.
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Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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