Covington Capital Management lowered its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,127 shares of the electric vehicle producer’s stock after selling 50 shares during the period. Covington Capital Management’s holdings in Tesla were worth $471,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Baird Financial Group Inc. grew its stake in Tesla by 0.7% in the fourth quarter. Baird Financial Group Inc. now owns 69,201 shares of the electric vehicle producer’s stock valued at $28,949,000 after acquiring an additional 459 shares during the period. Mark Sheptoff Financial Planning LLC grew its stake in Tesla by 70.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 2,519 shares of the electric vehicle producer’s stock valued at $1,054,000 after acquiring an additional 1,037 shares during the period. Axel Capital Management LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $105,000. Caxton Associates LP acquired a new stake in Tesla in the fourth quarter valued at approximately $5,035,000. Finally, Advisors Asset Management Inc. grew its stake in Tesla by 5.9% in the fourth quarter. Advisors Asset Management Inc. now owns 2,374 shares of the electric vehicle producer’s stock valued at $993,000 after acquiring an additional 132 shares during the period. 53.83% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on TSLA shares. JPMorgan Chase & Co. reissued a “sell” rating and issued a $260.00 price objective on shares of Tesla in a research note on Thursday, January 30th. ValuEngine cut Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Morgan Stanley cut their target price on Tesla from $460.00 to $440.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Citigroup cut their target price on Tesla from $312.00 to $246.00 and set a “sell” rating on the stock in a research report on Tuesday. Finally, Cfra raised Tesla to a “hold” rating in a research report on Tuesday, March 17th. Thirteen analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $470.85.
Shares of Tesla stock opened at $539.25 on Thursday. The business’s fifty day simple moving average is $688.92 and its 200 day simple moving average is $441.26. The firm has a market capitalization of $97.79 billion, a P/E ratio of -106.36, a price-to-earnings-growth ratio of 16.18 and a beta of 0.49. Tesla Inc has a 12 month low of $176.99 and a 12 month high of $968.99. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 1.56.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $2.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.34. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.05 billion. Tesla had a negative return on equity of 13.07% and a negative net margin of 3.51%. Tesla’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. Analysts predict that Tesla Inc will post 0.86 EPS for the current fiscal year.
In other Tesla news, SVP Andrew D. Baglino sold 4,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $891.93, for a total value of $3,567,720.00. Following the sale, the senior vice president now directly owns 4,805 shares in the company, valued at $4,285,723.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jerome M. Guillen sold 2,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $427.47, for a total value of $854,940.00. Following the completion of the sale, the insider now owns 11,236 shares in the company, valued at $4,803,052.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,536 shares of company stock worth $75,305,782. Corporate insiders own 24.40% of the company’s stock.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, 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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