Watchman Group Inc. Has $6.79 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Watchman Group Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 7.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,818 shares of the electric vehicle producer’s stock after selling 1,281 shares during the period. Tesla accounts for approximately 1.8% of Watchman Group Inc.’s portfolio, making the stock its 12th largest position. Watchman Group Inc.’s holdings in Tesla were worth $6,792,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank acquired a new stake in Tesla in the third quarter worth $287,000. Quantbot Technologies LP bought a new stake in Tesla in the third quarter valued at $687,000. Hantz Financial Services Inc. raised its holdings in shares of Tesla by 9.6% during the third quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 721 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC boosted its position in shares of Tesla by 1.6% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 17,247 shares of the electric vehicle producer’s stock worth $4,512,000 after purchasing an additional 279 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’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 sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade 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 worth $166,849,043 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 3.5 %

Shares of Tesla stock opened at $263.55 on Friday. The company’s 50-day moving average price is $321.33 and its 200-day moving average price is $322.34. The company has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG 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 company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSLA. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Robert W. Baird cut their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Glj Research restated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and set a $550.00 price objective on shares of Tesla in a report on Thursday. Finally, Mizuho lowered their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $318.34.

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.