Financial Counselors Inc. Sells 6,384 Shares of Tesla, Inc. (NASDAQ:TSLA)

Financial Counselors Inc. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,068 shares of the electric vehicle producer's stock after selling 6,384 shares during the quarter. Tesla comprises 1.0% of Financial Counselors Inc.'s investment portfolio, making the stock its 18th biggest holding. Financial Counselors Inc.'s holdings in Tesla were worth $71,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its stake in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its stake in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock valued at $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tesla by 13.7% in 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 worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock worth $6,996,871,000 after acquiring an additional 780,026 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

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Tesla Trading Down 3.0 %

TSLA traded down $8.24 during trading on Friday, reaching $264.89. The company had a trading volume of 91,757,263 shares, compared to its average volume of 93,042,016. 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 business has a 50 day simple moving average of $324.59 and a 200-day simple moving average of $321.35. The stock has a market cap of $852.04 billion, a P/E ratio of 129.83, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TSLA shares. Roth Mkm raised shares of Tesla from a "neutral" rating to a "buy" rating and increased their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. cut their price target on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group reiterated a "cautious" rating on shares of Tesla in a research note on Monday, March 3rd. Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald upgraded shares of Tesla from a "neutral" rating to an "overweight" rating and set a $425.00 target price on the stock in a research note on Wednesday, March 19th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $318.34.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was 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. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

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.