Tesla, Inc. (NASDAQ:TSLA) Stake Lowered by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,786 shares of the electric vehicle producer's stock after selling 1,300 shares during the quarter. Tesla comprises approximately 8.7% of IvyRock Asset Management HK Ltd's investment portfolio, making the stock its 4th largest holding. IvyRock Asset Management HK Ltd's holdings in Tesla were worth $19,702,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Horrell Capital Management Inc. increased its holdings 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 valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings 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 during the last quarter. CoreFirst Bank & Trust acquired a new position in Tesla during the 4th quarter valued at about $38,000. Cyrus J. Lawrence LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the fourth quarter worth $46,000. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla 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 sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last ninety days. 20.70% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSLA shares. Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price objective for the company. Glj Research restated a "buy" rating on shares of Tesla in a research report on Tuesday, March 11th. Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Canaccord Genuity Group reissued a "buy" rating and set a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Finally, Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, eight have given 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, the stock currently has a consensus rating of "Hold" and an average price target of $318.93.

Tesla Price Performance

Shares of TSLA stock traded down $16.07 during trading hours on Wednesday, hitting $272.07. 136,778,203 shares of the company's stock were exchanged, compared to its average volume of 92,015,604. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $875.11 billion, a PE ratio of 133.37, a PEG ratio of 5.86 and a beta of 2.50. The business's 50 day simple moving average is $330.52 and its 200-day simple moving average is $322.04. 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 (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current 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.