Symmetry Partners LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Symmetry Partners LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 63.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 685 shares of the electric vehicle producer’s stock after selling 1,211 shares during the period. Symmetry Partners LLC’s holdings in Tesla were worth $277,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC grew its stake in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC lifted its position in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd lifted its position in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Glj Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday. Evercore ISI raised their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $404.00 target price on shares of Tesla in a report on Monday. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $321.12.

Tesla Stock Up 4.7 %

Shares of Tesla stock opened at $235.86 on Thursday. The firm’s 50 day moving average price is $341.28 and its 200-day moving average price is $320.02. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a market cap of $758.65 billion, a P/E ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % 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 Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last 90 days. 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.