Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,203 shares of the electric vehicle producer’s stock after selling 177 shares during the quarter. Tesla accounts for 1.7% of Cim Investment Management Inc.’s investment portfolio, making the stock its 10th biggest position. Cim Investment Management Inc.’s holdings in Tesla were worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. grew its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter worth approximately $38,000. Delos Wealth Advisors LLC raised its position in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Mizuho reduced their target price on Tesla from $430.00 to $375.00 and set an “outperform” rating on the stock in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $425.00 price target on shares of Tesla in a report on Thursday, April 3rd. Finally, Robert W. Baird reduced their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $298.59.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This trade represents a 12.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $251.96 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $810.42 billion, a price-to-earnings ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. The stock’s 50 day moving average price is $285.19 and its 200 day moving average price is $323.09. 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 issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.