Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,428 shares of the electric vehicle producer's stock after selling 2,511 shares during the period. Tesla accounts for approximately 0.7% of Vestcor Inc's investment portfolio, making the stock its 26th biggest holding. Vestcor Inc's holdings in Tesla were worth $21,576,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Swedbank AB increased its position in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer's stock valued at $287,457,000 after acquiring an additional 29,669 shares during the period. Principal Financial Group Inc. increased its position in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank acquired a new position in shares of Tesla in the 3rd quarter valued at $287,000. Ashton Thomas Private Wealth LLC increased its position in shares of Tesla by 9.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 4,980 shares of the electric vehicle producer's stock valued at $1,303,000 after acquiring an additional 423 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Tesla in the 3rd quarter valued at $610,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Benchmark started coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price target on the stock. StockNews.com lowered shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Monday, February 10th. Finally, UBS Group lowered their price target on shares of Tesla from $259.00 to $225.00 and set a "sell" rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $325.81.

Remove Ads

Tesla Stock Up 7.6 %

TSLA stock opened at $248.09 on Thursday. The company has a market cap of $797.99 billion, a price-to-earnings ratio of 121.61, a PEG ratio of 5.86 and a beta of 2.50. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a 50-day moving average of $357.29 and a two-hundred day moving average of $319.03.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were 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 $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 is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm'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 sale, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30 % 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 90 days. Insiders own 20.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.