Cambridge Investment Research Advisors Inc. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cambridge Investment Research Advisors Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 501,898 shares of the electric vehicle producer’s stock after selling 3,167 shares during the quarter. Tesla accounts for 0.7% of Cambridge Investment Research Advisors Inc.’s holdings, making the stock its 14th largest holding. Cambridge Investment Research Advisors Inc.’s holdings in Tesla were worth $202,686,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its stake in shares of 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 in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla in the 4th quarter valued at $37,000. CoreFirst Bank & Trust acquired a new position in Tesla during the 4th quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the 4th quarter valued at about $39,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on TSLA shares. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $287.46.

Tesla Stock Performance

Tesla stock opened at $280.26 on Tuesday. The stock has a fifty day moving average price of $258.60 and a 200 day moving average price of $326.33. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The firm has a market capitalization of $902.71 billion, a P/E ratio of 137.38, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last released its 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). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,228 shares of company stock worth $111,181,034. 20.70% of the stock is owned by insiders.

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.