Reynders McVeigh Capital Management LLC Sells 14,374 Shares of Tesla, Inc. (NASDAQ:TSLA)

Reynders McVeigh Capital Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,756 shares of the electric vehicle producer's stock after selling 14,374 shares during the period. Tesla makes up approximately 2.1% of Reynders McVeigh Capital Management LLC's investment portfolio, making the stock its 17th largest position. Reynders McVeigh Capital Management LLC's holdings in Tesla were worth $39,074,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the 4th 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. boosted its stake 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 buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at $38,000. Delos Wealth Advisors LLC increased 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 purchasing an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla during the 4th quarter worth $44,000. 66.20% of the stock is owned by institutional investors.

Remove Ads

Tesla Trading Down 4.9 %

Shares of NASDAQ:TSLA traded down $12.56 during midday trading on Wednesday, reaching $241.55. The company had a trading volume of 111,909,043 shares, compared to its average volume of 95,998,654. The company has a fifty day simple moving average of $280.27 and a two-hundred day simple moving average of $323.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $776.95 billion, a price-to-earnings ratio of 118.41, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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%. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm'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 sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on TSLA. The Goldman Sachs Group lowered their price objective on shares of Tesla from $320.00 to $275.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Stifel Nicolaus decreased their price objective on shares of Tesla from $474.00 to $455.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Morgan Stanley reduced their price target on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Robert W. Baird reduced their price target on Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $297.03.

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.