Tesla, Inc. (NASDAQ:TSLA) Holdings Trimmed by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.2% during the 4th quarter, HoldingsChannel reports. The firm owned 15,631,235 shares of the electric vehicle producer’s stock after selling 3,015,358 shares during the quarter. Tesla accounts for 2.9% of Jennison Associates LLC’s investment portfolio, making the stock its 8th biggest holding. Jennison Associates LLC’s holdings in Tesla were worth $3,884,049,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC grew its position in Tesla by 8.6% during the 3rd quarter. International Assets Investment Management LLC now owns 23,774 shares of the electric vehicle producer’s stock worth $5,718,000 after purchasing an additional 1,887 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Tesla by 2.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,078 shares of the electric vehicle producer’s stock valued at $770,000 after acquiring an additional 66 shares in the last quarter. OneAscent Wealth Management LLC grew its holdings in shares of Tesla by 111.8% during the 3rd quarter. OneAscent Wealth Management LLC now owns 3,487 shares of the electric vehicle producer’s stock valued at $873,000 after acquiring an additional 1,841 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Tesla by 16.7% during the 3rd quarter. Harbor Investment Advisory LLC now owns 7,461 shares of the electric vehicle producer’s stock valued at $1,867,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Cooper Financial Group grew its holdings in shares of Tesla by 0.4% during the 3rd quarter. Cooper Financial Group now owns 43,007 shares of the electric vehicle producer’s stock valued at $10,761,000 after acquiring an additional 180 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 3.4 %

Shares of TSLA opened at $142.05 on Tuesday. The company has a 50-day simple moving average of $177.59 and a 200-day simple moving average of $210.05. The firm has a market capitalization of $452.40 billion, a P/E ratio of 32.96, a P/E/G ratio of 3.89 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 EPS. On average, equities research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Morgan Stanley lowered their price target on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Citigroup decreased their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, KGI Securities reiterated a “neutral” rating and issued a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $194.70.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Insiders own 20.90% of the company’s stock.

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.