SageView Advisory Group LLC Sells 263 Shares of Tesla, Inc. (NASDAQ:TSLA)

SageView Advisory Group LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,684 shares of the electric vehicle producer’s stock after selling 263 shares during the period. SageView Advisory Group LLC’s holdings in Tesla were worth $5,930,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter worth about $38,000. Delos Wealth Advisors LLC boosted its position in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC purchased a new position in Tesla during the fourth quarter valued at approximately $44,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Morgan Stanley dropped their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $298.59.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $251.96 on Friday. The business has a fifty day moving average price of $285.19 and a 200-day moving average price of $323.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $810.42 billion, a PE ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’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 in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by corporate insiders.

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.