Titleist Asset Management LLC Has $71.98 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Titleist Asset Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,247 shares of the electric vehicle producer's stock after selling 22,107 shares during the quarter. Tesla comprises approximately 8.2% of Titleist Asset Management LLC's holdings, making the stock its 2nd largest position. Titleist Asset Management LLC's holdings in Tesla were worth $71,983,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Darden Wealth Group Inc lifted its stake in shares of Tesla by 2.3% in the 4th quarter. Darden Wealth Group Inc now owns 2,215 shares of the electric vehicle producer's stock valued at $895,000 after purchasing an additional 50 shares during the last quarter. MIG Capital LLC bought a new stake in Tesla during the fourth quarter worth approximately $311,000. Quadrant Capital Group LLC grew its position in shares of Tesla by 9.8% in the fourth quarter. Quadrant Capital Group LLC now owns 31,493 shares of the electric vehicle producer's stock valued at $12,718,000 after purchasing an additional 2,801 shares during the last quarter. Cascades Capital Asset Management LLC grew its holdings in Tesla by 3.7% in the 4th quarter. Cascades Capital Asset Management LLC now owns 1,392 shares of the electric vehicle producer's stock valued at $562,000 after buying an additional 50 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Tesla by 35.5% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 420,000 shares of the electric vehicle producer's stock worth $169,613,000 after acquiring an additional 110,000 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,228 shares of company stock worth $122,791,123. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA traded down $6.14 during trading on Monday, reaching $233.29. 181,900,757 shares of the company traded hands, compared to its average volume of 94,623,719. The company has a market cap of $750.38 billion, a P/E ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58. The firm has a fifty day simple moving average of $305.98 and a 200 day simple moving average of $324.24. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. 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 released 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Bank of America decreased their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. HSBC dropped their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and upped their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a report on Wednesday, March 12th. Finally, Benchmark started coverage on Tesla in a research report on Wednesday, February 12th. They set a "buy" rating and a $475.00 target price for the company. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $305.31.

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.