Sequent Planning LLC Sells 133 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sequent Planning LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,844 shares of the electric vehicle producer’s stock after selling 133 shares during the period. Sequent Planning LLC’s holdings in Tesla were worth $745,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla in the fourth quarter worth $44,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the 4th quarter valued at about $46,000. Finally, Parkworth Wealth Management Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $47,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 5.3 %

NASDAQ:TSLA opened at $248.71 on Monday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. 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 firm has a 50-day moving average of $335.19 and a 200-day moving average of $321.15. The company has a market cap of $799.98 billion, a PE ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $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. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Stifel Nicolaus lowered their price target on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Royal Bank of Canada decreased their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a research note on Wednesday, March 19th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Company 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.