Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,818 shares of the electric vehicle producer’s stock after selling 154 shares during the period. Advisors Asset Management Inc.’s holdings in Tesla were worth $3,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla during the 4th quarter worth about $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla in the 4th quarter valued at $47,000. PayPay Securities Corp increased its position in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Rialto Wealth Management LLC acquired a new stake in Tesla in the fourth quarter valued at $55,000. Finally, Finley Financial LLC purchased a new stake in Tesla during the fourth quarter worth about $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $236.26 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market cap of $759.93 billion, a P/E ratio of 115.81, a PEG ratio of 5.86 and a beta of 2.50. 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 $338.11 and a 200 day moving average price of $319.44.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on TSLA. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $319.56.

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.