Pinpoint Asset Management Ltd Has $51.81 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pinpoint Asset Management Ltd lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,293 shares of the electric vehicle producer's stock after selling 33,535 shares during the quarter. Tesla accounts for approximately 9.5% of Pinpoint Asset Management Ltd's holdings, making the stock its 4th biggest holding. Pinpoint Asset Management Ltd's holdings in Tesla were worth $51,810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its position in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter valued at approximately $38,000. Delos Wealth Advisors LLC raised its position in shares of Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock valued at $40,000 after acquiring an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in Tesla during the fourth quarter worth $44,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Guggenheim lowered their target price on shares of Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a research note on Wednesday, March 12th. UBS Group lowered their target price on Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a report on Monday, March 10th. Mizuho reduced their price objective on Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Truist Financial dropped their target price on Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada reduced their price target on shares of Tesla from $440.00 to $320.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $305.31.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction of $43,162,255.60. Following 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. In the last quarter, insiders have sold 370,228 shares of company stock worth $122,791,123. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 5.0 %

Shares of TSLA traded down $12.07 during mid-day trading on Monday, reaching $227.36. The company's stock had a trading volume of 116,325,581 shares, compared to its average volume of 101,588,086. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. 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 company has a market cap of $731.30 billion, a price-to-earnings ratio of 111.45, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The business has a fifty day moving average of $305.98 and a 200 day moving average of $324.24.

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 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.