MONECO Advisors LLC Sells 778 Shares of Tesla, Inc. (NASDAQ:TSLA)

MONECO Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,001 shares of the electric vehicle producer’s stock after selling 778 shares during the period. MONECO Advisors LLC’s holdings in Tesla were worth $4,846,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TSLA. Swedbank AB boosted its holdings in 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 purchasing an additional 29,669 shares during the period. Orrstown Financial Services Inc. raised its position in shares of Tesla by 67.0% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,490 shares of the electric vehicle producer’s stock valued at $913,000 after buying an additional 1,400 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Tesla by 37.7% in the 3rd quarter. Pallas Capital Advisors LLC now owns 3,457 shares of the electric vehicle producer’s stock valued at $900,000 after buying an additional 947 shares in the last quarter. Worth Financial Advisory Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $267,000. Finally, Smith Group Asset Management LLC raised its position in shares of Tesla by 103.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 3,306 shares of the electric vehicle producer’s stock valued at $865,000 after buying an additional 1,680 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Guggenheim restated a “sell” rating on shares of Tesla in a research report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $319.57.

Tesla Trading Down 8.4 %

NASDAQ:TSLA opened at $302.80 on Wednesday. The firm’s fifty day moving average is $393.98 and its 200-day moving average is $315.69. 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, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market cap of $973.96 billion, a P/E ratio of 148.43, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted 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%. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.