Tesla, Inc. (NASDAQ:TSLA) is US Asset Management LLC’s 7th Largest Position

by · The Cerbat Gem

US Asset Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,520 shares of the electric vehicle producer’s stock after selling 217 shares during the period. Tesla accounts for about 2.4% of US Asset Management LLC’s portfolio, making the stock its 7th biggest position. US Asset Management LLC’s holdings in Tesla were worth $2,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. True Wealth Design LLC lifted its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in shares of Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla during the 4th quarter valued at about $38,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 1.9%

TSLA opened at $341.04 on Friday. 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 market cap of $1.10 trillion, a price-to-earnings ratio of 167.18, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a fifty day moving average price of $275.05 and a 200-day moving average price of $332.09.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm earned $0.45 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Mizuho boosted their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Roth Mkm decreased their price target on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Argus set a $410.00 price objective on Tesla in a research report on Thursday, April 24th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Robert W. Baird lowered their target price on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $289.43.

Get Our Latest Analysis on TSLA

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This trade represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock valued at $116,650,831 in the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Profile

(Free Report)

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.

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