Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,900 shares of the electric vehicle producer’s stock after selling 1,051 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Tesla were worth $6,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new position in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.2 %

TSLA stock opened at $292.03 on Wednesday. The company’s 50 day moving average is $261.24 and its two-hundred day moving average is $323.87. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $940.62 billion, a P/E ratio of 143.15, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company earned $0.45 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Joseph Gebbia purchased 4,000 shares of Tesla stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the acquisition, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,228 shares of company stock valued at $123,791,123. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Bank of America decreased their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Mizuho cut their price target on shares of Tesla from $375.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a report on Monday, January 6th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $287.46.

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.