Zacks Investment Management Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Zacks Investment Management trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,243 shares of the electric vehicle producer's stock after selling 12,217 shares during the period. Tesla makes up about 1.0% of Zacks Investment Management's investment portfolio, making the stock its 22nd biggest position. Zacks Investment Management's holdings in Tesla were worth $109,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. increased its position 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 valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Tesla during the 4th quarter valued at $38,000. Delos Wealth Advisors LLC grew its stake in 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 buying an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $44,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 0.2 %

TSLA traded down $0.39 during trading on Friday, hitting $241.17. The company's stock had a trading volume of 83,173,157 shares, compared to its average volume of 95,997,504. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm's 50 day moving average price is $275.67 and its 200-day moving average price is $322.33. The stock has a market cap of $775.71 billion, a PE ratio of 118.22, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. Canaccord Genuity Group reiterated a "buy" rating and set a $404.00 price target on shares of Tesla in a report on Monday, March 17th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday. Royal Bank of Canada reduced their target price on Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Monday, February 10th. Finally, Robert W. Baird decreased their target price on Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $292.18.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at $41,745,581.15. The trade was a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last ninety days. Insiders own 20.70% of the company's stock.

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.