Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,570,607 shares of the electric vehicle producer's stock after selling 1,231,978 shares during the period. Tesla comprises 1.3% of Price T Rowe Associates Inc. MD's holdings, making the stock its 10th biggest holding. Price T Rowe Associates Inc. MD owned about 0.89% of Tesla worth $11,537,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in TSLA. Principal Financial Group Inc. boosted its position in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. McIlrath & Eck LLC lifted its stake in shares of Tesla by 6.0% during the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer's stock worth $890,000 after purchasing an additional 192 shares during the last quarter. Advisory Resource Group boosted its position in Tesla by 1.2% during the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer's stock valued at $1,115,000 after purchasing an additional 50 shares in the last quarter. Morse Asset Management Inc grew its stake in Tesla by 46.0% in the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer's stock valued at $2,279,000 after purchasing an additional 2,743 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in Tesla by 31.4% in the third quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer's stock worth $1,460,000 after purchasing an additional 1,334 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA traded up $25.44 on Friday, reaching $284.95. The stock had a trading volume of 166,882,151 shares, compared to its average volume of 96,138,436. The business's 50-day moving average price is $265.36 and its two-hundred day moving average price is $322.18. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $158.36 and a 12-month high of $488.54. The company has a market cap of $916.55 billion, a P/E ratio of 139.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the company posted $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday. Argus set a $410.00 price target on shares of Tesla in a report on Thursday. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Cowen raised Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $287.46.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This 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 the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last quarter. Corporate insiders own 20.70% of the company's stock.

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.