Watchman Group Inc. Has $6.79 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Watchman Group Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,818 shares of the electric vehicle producer’s stock after selling 1,281 shares during the period. Tesla makes up 1.8% of Watchman Group Inc.’s holdings, making the stock its 12th largest position. Watchman Group Inc.’s holdings in Tesla were worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at approximately $14,420,248,000. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after purchasing an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 3.5 %

Shares of TSLA opened at $263.55 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The business’s fifty day moving average is $321.33 and its 200-day moving average is $322.34.

Tesla (NASDAQ:TSLA) last issued 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 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, 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 a total of 477,228 shares of company stock valued at $166,849,043 in the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Wedbush reissued an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a report on Thursday. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Truist Financial lifted their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Nine equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $318.34.

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.