Rathbones Group PLC Has $40.20 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Rathbones Group PLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 99,549 shares of the electric vehicle producer’s stock after selling 5,202 shares during the period. Rathbones Group PLC’s holdings in Tesla were worth $40,202,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC increased its holdings in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $239.43 on Monday. The stock has a 50 day moving average of $305.98 and a 200 day moving average of $324.24. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market capitalization of $770.13 billion, a price-to-earnings ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its 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 return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,228 shares of company stock valued at $122,791,123. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Piper Sandler decreased their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Royal Bank of Canada dropped their price target on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Robert W. Baird decreased their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Truist Financial dropped their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Morgan Stanley dropped their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $312.65.

Tesla 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.