Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,700 shares of the electric vehicle producer’s stock after selling 53 shares during the quarter. Patten & Patten Inc. TN’s holdings in Tesla were worth $1,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC raised its stake in Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after acquiring an additional 184,459 shares in the last quarter. Destination Wealth Management raised its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its stake in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares in the last quarter. Vinva Investment Management Ltd raised its stake in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $249.98 on Monday. The firm has a 50 day simple moving average of $351.31 and a 200-day simple moving average of $320.31. 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 firm has a market cap of $804.06 billion, a PE ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted 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%. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, 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 completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSLA shares. Stifel Nicolaus lowered their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $325.65.

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.