Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,706 shares of the electric vehicle producer’s stock after selling 174 shares during the quarter. Tesla makes up about 1.8% of Profit Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Profit Investment Management LLC’s holdings in Tesla were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT lifted its holdings in Tesla by 36.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock worth $554,000 after buying an additional 747 shares during the last quarter. ProVise Management Group LLC lifted its stake in Tesla by 12.8% during the second quarter. ProVise Management Group LLC now owns 5,190 shares of the electric vehicle producer’s stock worth $1,027,000 after purchasing an additional 588 shares during the last quarter. Brighton Jones LLC increased its stake in Tesla by 11.5% during the second quarter. Brighton Jones LLC now owns 80,872 shares of the electric vehicle producer’s stock valued at $16,003,000 after purchasing an additional 8,343 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of Tesla by 17.5% during the second quarter. Ieq Capital LLC now owns 183,349 shares of the electric vehicle producer’s stock worth $36,281,000 after purchasing an additional 27,296 shares during the period. Finally, GM Advisory Group LLC lifted its position in shares of Tesla by 3.5% in the 2nd quarter. GM Advisory Group LLC now owns 8,869 shares of the electric vehicle producer’s stock worth $1,755,000 after buying an additional 302 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. HSBC reiterated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday. Evercore ISI increased their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Up 3.1 %

TSLA stock opened at $426.50 on Friday. The company’s 50 day simple moving average is $387.84 and its 200-day simple moving average is $286.58. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

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.