Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,247 shares of the electric vehicle producer’s stock after selling 22,107 shares during the quarter. Tesla accounts for 8.2% of Titleist Asset Management LLC’s portfolio, making the stock its 2nd largest position. Titleist Asset Management LLC’s holdings in Tesla were worth $71,983,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% during the fourth 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 during the period. GS Investments Inc. increased its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter worth $38,000. Delos Wealth Advisors LLC lifted its holdings 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 buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new position in Tesla during the fourth quarter valued at about $44,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, 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 completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents 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 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 10.4 %

Tesla stock opened at $239.43 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. 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 market capitalization of $770.13 billion, a PE ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The business’s 50-day simple moving average is $305.98 and its 200-day simple moving average is $323.56.

Tesla (NASDAQ:TSLA) last issued its quarterly 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%. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Mizuho reduced their target price on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Royal Bank of Canada cut their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $312.65.

Tesla Company 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.