Manchester Capital Management LLC Sells 252 Shares of Tesla, Inc. (NASDAQ:TSLA)

Manchester Capital Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,283 shares of the electric vehicle producer’s stock after selling 252 shares during the quarter. Manchester Capital Management LLC’s holdings in Tesla were worth $4,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Geode Capital Management LLC grew its stake in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after purchasing an additional 1,022,589 shares during the last quarter. FMR LLC lifted its holdings in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 13.7% in 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 buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by insiders.

Tesla Trading Down 0.5 %

TSLA stock opened at $354.11 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market cap of $1.14 trillion, a price-to-earnings ratio of 173.58, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a fifty day moving average price of $405.64 and a two-hundred day moving average price of $309.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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 analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target on the stock. Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $326.50.

About Tesla

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.