Corient Private Wealth LLC Sells 133,163 Shares of Tesla, Inc. (NASDAQ:TSLA)

Corient Private Wealth LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 624,844 shares of the electric vehicle producer’s stock after selling 133,163 shares during the quarter. Corient Private Wealth LLC’s holdings in Tesla were worth $252,337,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Strategic Financial Concepts LLC grew its stake in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after buying an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $249.98 on Friday. The firm has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $351.31 and its two-hundred day simple moving average is $319.51. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on TSLA shares. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Mizuho restated an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. UBS Group reduced their price objective on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. Finally, Stifel Nicolaus reduced their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $325.65.

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.