Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the 4th quarter, HoldingsChannel reports. The firm owned 8,669 shares of the electric vehicle producer’s stock after selling 595 shares during the quarter. Jacobs & Co. CA’s holdings in Tesla were worth $3,500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Heartwood Wealth Advisors LLC purchased a new stake in Tesla during the 4th quarter worth $311,000. Sage Capital Advisors llc boosted its position in Tesla by 5.4% in the 4th quarter. Sage Capital Advisors llc now owns 871 shares of the electric vehicle producer’s stock valued at $352,000 after buying an additional 45 shares during the last quarter. Highline Wealth Partners LLC boosted its position in Tesla by 7.6% in the 4th quarter. Highline Wealth Partners LLC now owns 18,437 shares of the electric vehicle producer’s stock valued at $7,446,000 after buying an additional 1,300 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in Tesla by 7.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,259 shares of the electric vehicle producer’s stock valued at $508,000 after buying an additional 90 shares during the last quarter. Finally, Weybosset Research & Management LLC purchased a new position in Tesla in the 4th quarter valued at about $277,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and increased their price target for the stock from $400.00 to $490.00 in a research report on Tuesday. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, UBS Group increased their price target on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $295.69.

Tesla Price Performance

NASDAQ:TSLA traded up $0.71 during mid-day trading on Friday, reaching $395.65. 50,792,466 shares of the stock were exchanged, compared to its average volume of 81,579,945. The business has a fifty day moving average price of $373.68 and a 200 day moving average price of $279.12. The firm has a market capitalization of $1.27 trillion, a PE ratio of 108.40, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the company posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s 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 approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last quarter. 20.70% of the stock is owned by company insiders.

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.