Tesla, Inc. (NASDAQ:TSLA) Position Lowered by Hoey Investments Inc.

Hoey Investments Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 74.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 931 shares of the electric vehicle producer's stock after selling 2,708 shares during the period. Hoey Investments Inc.'s holdings in Tesla were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC lifted its holdings in shares of Tesla by 300.0% in 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 acquired a new stake in shares of Tesla in the 4th quarter valued at about $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 1.7 %

Tesla stock traded down $4.39 during trading on Monday, hitting $259.16. The company's stock had a trading volume of 133,362,829 shares, compared to its average volume of 93,380,718. The stock's fifty day moving average is $317.98 and its 200 day moving average is $323.21. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $833.59 billion, a price-to-earnings ratio of 127.04, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the business's 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 transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla 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 sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TSLA shares. Royal Bank of Canada reduced their price objective on Tesla from $440.00 to $320.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a report on Wednesday, March 12th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Mizuho lowered their target price on Tesla from $515.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, March 17th. Finally, Roth Mkm upgraded Tesla from a "neutral" rating to a "buy" rating and upped their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $317.75.

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.