Agur Provident & Training Funds Management Ltd. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Agur Provident & Training Funds Management Ltd. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 50.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,550 shares of the electric vehicle producer’s stock after selling 8,600 shares during the period. Tesla makes up about 1.3% of Agur Provident & Training Funds Management Ltd.’s holdings, making the stock its 17th largest holding. Agur Provident & Training Funds Management Ltd.’s holdings in Tesla were worth $3,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Tepp RIA LLC acquired a new position in shares of Tesla during the 4th quarter valued at about $279,000. Nomura Asset Management Co. Ltd. raised its stake in Tesla by 4.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,093,572 shares of the electric vehicle producer’s stock worth $441,628,000 after purchasing an additional 50,518 shares during the period. Broadway Wealth Solutions Inc. acquired a new position in Tesla in the 4th quarter valued at about $929,000. Frazier Financial Advisors LLC increased its holdings in shares of Tesla by 9.4% during the 4th quarter. Frazier Financial Advisors LLC now owns 536 shares of the electric vehicle producer’s stock worth $224,000 after buying an additional 46 shares during the last quarter. Finally, X Square Capital LLC raised its position in shares of Tesla by 510.3% during the 4th quarter. X Square Capital LLC now owns 11,285 shares of the electric vehicle producer’s stock valued at $4,557,000 after buying an additional 9,436 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Canaccord Genuity Group reissued a “buy” rating and set a $404.00 price objective on shares of Tesla in a research report on Monday, March 17th. Wedbush restated an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a report on Thursday. Bank of America lowered their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley reduced their price target on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Nine equities research 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, the company currently has an average rating of “Hold” and a consensus target price of $319.12.

Tesla Stock Performance

Shares of TSLA stock opened at $273.13 on Friday. The stock’s 50-day moving average is $324.59 and its two-hundred day moving average is $321.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $878.53 billion, a price-to-earnings ratio of 133.89, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released 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%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s 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 owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’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 sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

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.