Tobam Has $831,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Tobam cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,058 shares of the electric vehicle producer’s stock after selling 533 shares during the period. Tobam’s holdings in Tesla were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Finley Financial LLC acquired a new position in shares of Tesla during the 4th quarter valued at $64,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in Tesla in the fourth quarter worth $91,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 3.0 %

Shares of NASDAQ TSLA opened at $350.73 on Tuesday. The business’s fifty day moving average price is $408.27 and its 200-day moving average price is $304.55. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $1.13 trillion, a PE ratio of 171.93, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSLA. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $321.71.

Insider Activity at Tesla

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