Legacy Investment Solutions LLC Has $359,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Legacy Investment Solutions LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 889 shares of the electric vehicle producer’s stock after selling 67 shares during the quarter. Legacy Investment Solutions LLC’s holdings in Tesla were worth $359,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla in the fourth quarter worth $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after buying an additional 780,026 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related 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 transaction of $718,046.56. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Stifel Nicolaus decreased their price target on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $425.00 target price on shares of Tesla in a research note on Thursday, April 3rd. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $298.59.

Tesla Stock Down 0.2 %

Shares of NASDAQ TSLA opened at $251.96 on Friday. The stock has a 50-day moving average price of $285.19 and a two-hundred day moving average price of $323.09. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. 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 company has a market cap of $810.42 billion, a price-to-earnings ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last issued 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, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.