Oakworth Capital Inc. Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Oakworth Capital Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 53.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,306 shares of the electric vehicle producer’s stock after selling 1,490 shares during the period. Oakworth Capital Inc.’s holdings in Tesla were worth $527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Retirement Planning Group LLC raised its holdings in shares of Tesla by 16.1% in the third quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock worth $364,000 after buying an additional 193 shares during the period. Carnegie Investment Counsel raised its holdings in shares of Tesla by 29.6% in the third quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock worth $1,735,000 after buying an additional 1,515 shares during the period. CHICAGO TRUST Co NA increased its holdings in Tesla by 37.6% during the 3rd quarter. CHICAGO TRUST Co NA now owns 2,197 shares of the electric vehicle producer’s stock worth $575,000 after purchasing an additional 600 shares during the period. Douglas Lane & Associates LLC purchased a new position in Tesla during the 3rd quarter worth $209,000. Finally, VitalStone Financial LLC increased its holdings in Tesla by 52.3% during the 3rd quarter. VitalStone Financial LLC now owns 3,095 shares of the electric vehicle producer’s stock worth $810,000 after purchasing an additional 1,063 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $350.73 on Tuesday. The stock has a 50-day simple moving average of $408.27 and a two-hundred day simple moving average of $304.55. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 635,776 shares of company stock worth $231,335,112. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TSLA shares. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Stifel Nicolaus dropped their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $321.71.

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.