Lazard Freres Gestion S.A.S. Has $650,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Lazard Freres Gestion S.A.S. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,610 shares of the electric vehicle producer’s stock after selling 221 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Tesla were worth $650,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. 1776 Wealth LLC grew its holdings in Tesla by 1.5% during the 4th quarter. 1776 Wealth LLC now owns 16,698 shares of the electric vehicle producer’s stock worth $6,743,000 after acquiring an additional 250 shares during the period. Bowen Hanes & Co. Inc. acquired a new stake in Tesla during the 4th quarter worth about $67,774,000. Once Capital Management LLC acquired a new stake in Tesla during the 4th quarter worth about $808,000. Tredje AP fonden grew its holdings in Tesla by 53.4% during the 4th quarter. Tredje AP fonden now owns 148,273 shares of the electric vehicle producer’s stock worth $59,879,000 after acquiring an additional 51,627 shares during the period. Finally, Mascoma Wealth Management LLC grew its stake in shares of Tesla by 5.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 753 shares of the electric vehicle producer’s stock valued at $304,000 after buying an additional 42 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 7.6 %

Tesla stock opened at $248.09 on Thursday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $797.99 billion, a price-to-earnings ratio of 121.61, a P/E/G ratio of 5.86 and a beta of 2.50. 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 50 day simple moving average of $357.29 and a 200 day simple moving average of $319.03.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley restated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday, March 3rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $325.81.

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.