Strategy Asset Managers LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Strategy Asset Managers LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 69.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 556 shares of the electric vehicle producer's stock after selling 1,286 shares during the period. Strategy Asset Managers LLC's holdings in Tesla were worth $225,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% in 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 period. GS Investments Inc. lifted its holdings in Tesla by 193.3% in the fourth 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 period. CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter valued at approximately $38,000. Cyrus J. Lawrence LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter valued at approximately $46,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday. Wedbush reissued an "outperform" rating and set a $550.00 price target on shares of Tesla in a research report on Thursday. HSBC cut their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday. 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 report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $317.75.

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Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company's stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $4.39 during midday trading on Monday, reaching $259.16. The stock had a trading volume of 133,362,829 shares, compared to its average volume of 93,379,725. The company has a market capitalization of $833.59 billion, a price-to-earnings ratio of 127.04, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a 50-day moving average of $321.33 and a 200-day moving average of $323.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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%. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.