Tesla, Inc. (NASDAQ:TSLA) is TTP Investments Inc.'s 10th Largest Position

TTP Investments Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,798 shares of the electric vehicle producer's stock after selling 2,048 shares during the quarter. Tesla comprises about 3.4% of TTP Investments Inc.'s portfolio, making the stock its 10th biggest holding. TTP Investments Inc.'s holdings in Tesla were worth $9,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Tesla during the 2nd quarter worth $48,000. Kimelman & Baird LLC bought a new position in shares of Tesla in the second quarter worth $74,000. Truist Financial Corp raised its stake in Tesla by 5.0% in the second quarter. Truist Financial Corp now owns 604,935 shares of the electric vehicle producer's stock valued at $119,705,000 after purchasing an additional 28,650 shares in the last quarter. Advisory Alpha LLC lifted its position in Tesla by 13.5% during the second quarter. Advisory Alpha LLC now owns 13,305 shares of the electric vehicle producer's stock worth $2,633,000 after purchasing an additional 1,578 shares during the period. Finally, Ted Buchan & Co acquired a new stake in Tesla during the second quarter worth about $308,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSLA. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday. New Street Research upgraded Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Robert W. Baird decreased their price target on Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a research note on Thursday. The Goldman Sachs Group upped their price objective on Tesla from $250.00 to $345.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Finally, Phillip Securities cut Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $318.31.

Tesla Trading Up 1.1 %

Tesla stock traded up $4.32 during trading hours on Friday, reaching $404.60. 83,239,854 shares of the company's stock were exchanged, compared to its average volume of 66,449,784. The firm's 50 day simple moving average is $404.22 and its 200 day simple moving average is $299.05. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.30 trillion, a PE ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. Research analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $36,761,200. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by company insiders.

About Tesla

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.