Tesla, Inc. (NASDAQ:TSLA) is Menlo Advisors LLC’s 9th Largest Position

Menlo Advisors LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,069 shares of the electric vehicle producer’s stock after selling 1,100 shares during the quarter. Tesla comprises approximately 4.4% of Menlo Advisors LLC’s portfolio, making the stock its 9th biggest holding. Menlo Advisors LLC’s holdings in Tesla were worth $8,508,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp raised its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, Finley Financial LLC purchased a new position in Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group restated a “neutral” rating on shares of Tesla in a report on Tuesday. Evercore ISI raised their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $313.15.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares in the company, 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 a total of 422,452 shares of company stock worth $153,659,530 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA opened at $263.45 on Friday. 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 stock has a market capitalization of $847.39 billion, a PE ratio of 129.14, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business’s fifty day moving average price is $371.15 and its 200 day moving average price is $317.75.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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 research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.