Parker Investment Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 64.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,093 shares of the electric vehicle producer’s stock after selling 19,947 shares during the period. Tesla accounts for approximately 1.8% of Parker Investment Management LLC’s investment portfolio, making the stock its 10th largest holding. Parker Investment Management LLC’s holdings in Tesla were worth $11,723,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in Tesla in the third quarter worth $27,000. Norway Savings Bank grew its stake in shares of Tesla by 40.0% in the fourth quarter. Norway Savings Bank now owns 35 shares of the electric vehicle producer’s stock worth $37,000 after purchasing an additional 10 shares in the last quarter. Crescent Capital Consulting LLC grew its stake in shares of Tesla by 27.8% in the fourth quarter. Crescent Capital Consulting LLC now owns 46 shares of the electric vehicle producer’s stock worth $868,000 after purchasing an additional 10 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Tesla in the third quarter worth $41,000. Finally, Cranbrook Wealth Management LLC grew its stake in shares of Tesla by 266.7% in the third quarter. Cranbrook Wealth Management LLC now owns 55 shares of the electric vehicle producer’s stock worth $43,000 after purchasing an additional 40 shares in the last quarter. 40.64% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Zachary Kirkhorn sold 1,250 shares of the company’s stock in a transaction dated Tuesday, January 18th. The shares were sold at an average price of $1,026.75, for a total transaction of $1,283,437.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Elon Musk sold 583,611 shares of the company’s stock in a transaction dated Tuesday, December 21st. The shares were sold at an average price of $904.74, for a total transaction of $528,016,216.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 663,187 shares of company stock valued at $602,321,320. Company insiders own 25.00% of the company’s stock.
TSLA has been the subject of several recent analyst reports. Robert W. Baird increased their price target on Tesla from $888.00 to $1,108.00 and gave the stock an “outperform” rating in a research note on Thursday, January 27th. Piper Sandler raised their target price on Tesla from $1,300.00 to $1,350.00 and gave the company an “overweight” rating in a research note on Monday, February 14th. Evercore ISI raised their target price on Tesla from $750.00 to $900.00 in a research note on Tuesday, January 4th. Daiwa Capital Markets upgraded Tesla from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $980.00 to $900.00 in a research report on Friday, February 25th. Finally, Jefferies Financial Group initiated coverage on Tesla in a research report on Monday. They issued a “buy” rating and a $1,250.00 price target for the company. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $935.68.
Shares of NASDAQ TSLA traded up $20.96 during midday trading on Monday, reaching $926.35. The company’s stock had a trading volume of 961,538 shares, compared to its average volume of 27,133,340. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.08. The stock has a market capitalization of $930.30 billion, a P/E ratio of 189.09, a PEG ratio of 3.07 and a beta of 2.04. The firm has a 50 day moving average price of $897.12 and a 200-day moving average price of $937.47. Tesla, Inc. has a 12-month low of $546.98 and a 12-month high of $1,243.49.
Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, January 26th. The electric vehicle producer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.37. Tesla had a net margin of 10.25% and a return on equity of 20.36%. The company had revenue of $17.72 billion during the quarter, compared to analyst estimates of $16.65 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 65.6% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 7.6 EPS for the current year.
About Tesla (Get Rating)
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. It also provides vehicle service centers, Supercharger stations, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.
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