Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,551 shares of the electric vehicle producer’s stock after selling 1,220 shares during the period. Transcend Capital Advisors LLC’s holdings in Tesla were worth $4,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Opinicus Capital Inc. purchased a new stake in shares of Tesla during the fourth quarter worth about $605,000. Unique Wealth Strategies LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $1,237,000. Motley Fool Wealth Management LLC grew its holdings in shares of Tesla by 9.7% during the fourth quarter. Motley Fool Wealth Management LLC now owns 2,101 shares of the electric vehicle producer’s stock worth $522,000 after buying an additional 186 shares in the last quarter. Private Wealth Partners LLC grew its holdings in Tesla by 57.8% in the fourth quarter. Private Wealth Partners LLC now owns 10,967 shares of the electric vehicle producer’s stock valued at $2,725,000 after purchasing an additional 4,017 shares during the period. Finally, Valmark Advisers Inc. grew its holdings in Tesla by 1.3% in the fourth quarter. Valmark Advisers Inc. now owns 10,652 shares of the electric vehicle producer’s stock valued at $2,647,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. Barclays decreased their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Mizuho decreased their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Finally, Citigroup boosted their price objective on shares of Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.70.

Tesla Stock Down 1.1 %

TSLA traded down $1.89 during trading on Friday, hitting $168.29. The company had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. The company has a market cap of $536.71 billion, a PE ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The business has a 50-day moving average of $175.04 and a 200-day moving average of $208.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25.

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). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company posted $1.07 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

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 in the company, valued at $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the 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 completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% 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.