Tesla, Inc. (NASDAQ:TSLA) Holdings Trimmed by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 8,023 shares of the electric vehicle producer’s stock after selling 315 shares during the period. Marks Group Wealth Management Inc’s holdings in Tesla were worth $1,994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after purchasing an additional 2,293,344 shares in the last quarter. Morgan Stanley grew its holdings in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after buying an additional 909,170 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Barclays cut their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. UBS Group cut their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Finally, Mizuho restated a “neutral” rating and set a $195.00 target price (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $194.33.

Tesla Stock Up 2.3 %

TSLA stock traded up $3.29 during mid-day trading on Tuesday, reaching $145.34. The company had a trading volume of 71,126,975 shares, compared to its average volume of 101,291,602. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a market capitalization of $462.88 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 3.89 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The stock has a 50 day simple moving average of $177.59 and a two-hundred day simple moving average of $210.05.

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

Insider Buying and Selling

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

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.