Symmetry Investments LP Sells 10,450 Shares of Tesla, Inc. (NASDAQ:TSLA)

Symmetry Investments LP lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 67.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,101 shares of the electric vehicle producer’s stock after selling 10,450 shares during the period. Symmetry Investments LP’s holdings in Tesla were worth $2,060,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. McIlrath & Eck LLC increased its holdings in shares of Tesla by 6.0% in the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock worth $890,000 after buying an additional 192 shares during the period. Advisory Resource Group lifted its stake in shares of Tesla by 1.2% in the 3rd quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock valued at $1,115,000 after acquiring an additional 50 shares during the last quarter. Morse Asset Management Inc boosted its holdings in Tesla by 46.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock valued at $2,279,000 after acquiring an additional 2,743 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in Tesla by 31.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer’s stock worth $1,460,000 after acquiring an additional 1,334 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating on shares of Tesla in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Robert W. Baird reduced their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday. Ten analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $290.66.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’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 sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. 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 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $237.97 on Wednesday. The firm has a market cap of $765.43 billion, a P/E ratio of 116.65, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a twelve month low of $141.11 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $269.39 and a 200 day moving average of $322.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.