Penobscot Investment Management Company Inc. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Penobscot Investment Management Company Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,865 shares of the electric vehicle producer’s stock after selling 600 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Tesla were worth $1,157,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after acquiring an additional 780,026 shares in the last quarter. Finally, Amundi lifted its position in Tesla by 1.2% during the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after acquiring an additional 159,508 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $272.06 on Thursday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. 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 capitalization of $875.09 billion, a PE ratio of 133.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business’s fifty day moving average price is $327.40 and its 200 day moving average price is $321.69.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on 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 $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. UBS Group reduced their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Barclays upped their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Stifel Nicolaus dropped their price target on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research report on Thursday, March 20th. Finally, Bank of America dropped their target price 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $318.93.

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.