Saybrook Capital NC Sells 85 Shares of Tesla, Inc. (NASDAQ:TSLA)

Saybrook Capital NC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 775 shares of the electric vehicle producer’s stock after selling 85 shares during the period. Saybrook Capital NC’s holdings in Tesla were worth $313,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Swedbank AB boosted its stake in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Principal Financial Group Inc. boosted its stake in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. Source Financial Advisors LLC boosted its stake in Tesla by 17.3% during the 3rd quarter. Source Financial Advisors LLC now owns 2,104 shares of the electric vehicle producer’s stock valued at $550,000 after purchasing an additional 310 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Tesla by 0.9% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 233,261 shares of the electric vehicle producer’s stock worth $61,014,000 after acquiring an additional 2,163 shares during the period. Finally, Equitable Trust Co. lifted its stake in shares of Tesla by 78.7% in the 3rd quarter. Equitable Trust Co. now owns 8,950 shares of the electric vehicle producer’s stock worth $2,342,000 after acquiring an additional 3,943 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Canaccord Genuity Group boosted their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. UBS Group reaffirmed a “neutral” rating on shares of Tesla in a research report on Tuesday. Evercore ISI increased their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $327.37.

Tesla Stock Performance

Shares of TSLA stock opened at $262.67 on Friday. The stock has a market cap of $844.88 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business has a 50-day simple moving average of $367.78 and a 200-day simple moving average of $318.71. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by corporate insiders.

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.