Red Wave Investments LLC Sells 495 Shares of Tesla, Inc. (NASDAQ:TSLA)

Red Wave Investments LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,742 shares of the electric vehicle producer’s stock after selling 495 shares during the quarter. Red Wave Investments LLC’s holdings in Tesla were worth $1,107,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC lifted its position in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management increased its stake in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC lifted its holdings in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares in the last quarter. Vinva Investment Management Ltd boosted its position in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares during the period. Finally, MML Investors Services LLC grew its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $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 a total of 523,386 shares of company stock worth $195,995,200 over the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday, February 10th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Robert W. Baird decreased their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $319.57.

Tesla Trading Down 2.2 %

NASDAQ:TSLA opened at $330.53 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $397.52 and a 200-day simple moving average of $314.96. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market capitalization of $1.06 trillion, a P/E ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current 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.