RNC Capital Management LLC Sells 1,016 Shares of Tesla, Inc. (NASDAQ:TSLA)

RNC Capital Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,001 shares of the electric vehicle producer's stock after selling 1,016 shares during the period. RNC Capital Management LLC's holdings in Tesla were worth $1,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth $29,000. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter worth $35,000. Finley Financial LLC bought a new stake in shares of Tesla in the 4th quarter worth $64,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of Tesla during the fourth quarter valued at about $91,000. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

TSLA stock traded down $22.23 during mid-day trading on Tuesday, hitting $328.50. 117,798,926 shares of the stock were exchanged, compared to its average volume of 76,378,914. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. The business has a fifty day moving average price of $408.14 and a 200 day moving average price of $305.46. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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, sell-side analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Mizuho reaffirmed an "outperform" rating and issued a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Robert W. Baird reduced their price objective on Tesla from $480.00 to $440.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. Roth Mkm raised Tesla from a "neutral" rating to a "buy" rating and raised their target price for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Finally, New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $321.71.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were 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 directly owns 108,965 shares of the company's stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 635,776 shares of company stock worth $231,335,112 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla 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.