Sequent Planning LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sequent Planning LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,844 shares of the electric vehicle producer’s stock after selling 133 shares during the period. Sequent Planning LLC’s holdings in Tesla were worth $745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in Tesla by 193.3% during 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 last quarter. Cyrus J. Lawrence LLC acquired a new stake in Tesla during the 4th quarter worth $44,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the 4th quarter valued at about $46,000. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Tesla during the 4th quarter valued at about $47,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Wedbush reiterated an “outperform” rating and set a $550.00 price target on shares of Tesla in a research note on Thursday. Royal Bank of Canada lowered their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Finally, Guggenheim decreased their price target on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $318.93.

Tesla Trading Up 5.3 %

TSLA opened at $248.71 on Monday. The company’s 50 day moving average is $335.19 and its 200-day moving average is $321.15. Tesla, Inc. has a 1-year low of $138.80 and a 1-year 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 company has a market cap of $799.98 billion, a P/E ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by corporate insiders.

About Tesla

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.