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

Watchman Group Inc. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,818 shares of the electric vehicle producer's stock after selling 1,281 shares during the period. Tesla comprises 1.8% of Watchman Group Inc.'s portfolio, making the stock its 12th largest holding. Watchman Group Inc.'s holdings in Tesla were worth $6,792,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. World Investment Advisors LLC boosted its position in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management increased its stake in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after buying an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its holdings in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after acquiring an additional 891 shares during the period. MML Investors Services LLC lifted its position in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Remove Ads

Tesla Stock Performance

TSLA stock traded up $12.43 during midday trading on Wednesday, reaching $280.89. The stock had a trading volume of 135,704,334 shares, compared to its average volume of 93,828,745. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a fifty day simple moving average of $314.87 and a two-hundred day simple moving average of $323.48. The stock has a market cap of $903.49 billion, a PE ratio of 137.69, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Oppenheimer restated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Robert W. Baird reduced their price target on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Finally, Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price on the stock. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $317.75.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company's stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over 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.