Tesla, Inc. (NASDAQ:TSLA) is Cim Investment Management Inc.’s 10th Largest Position

Cim Investment Management Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 14,203 shares of the electric vehicle producer’s stock after selling 177 shares during the quarter. Tesla accounts for 1.7% of Cim Investment Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Cim Investment Management Inc.’s holdings in Tesla were worth $5,736,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Crux Wealth Advisors purchased a new position in Tesla during the 4th quarter valued at about $936,000. Keyes Stange & Wooten Wealth Management LLC purchased a new position in Tesla during the fourth quarter valued at approximately $246,000. Next Century Growth Investors LLC increased its stake in Tesla by 175.0% in the 4th quarter. Next Century Growth Investors LLC now owns 18,931 shares of the electric vehicle producer’s stock valued at $7,645,000 after buying an additional 12,047 shares during the period. Qtron Investments LLC lifted its position in Tesla by 12.9% in the 4th quarter. Qtron Investments LLC now owns 34,108 shares of the electric vehicle producer’s stock worth $13,774,000 after buying an additional 3,888 shares in the last quarter. Finally, Fortis Capital Advisors LLC lifted its position in Tesla by 28.7% in the 4th quarter. Fortis Capital Advisors LLC now owns 19,288 shares of the electric vehicle producer’s stock worth $7,789,000 after buying an additional 4,303 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 0.2 %

Shares of TSLA stock opened at $251.96 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a fifty day moving average of $285.19 and a 200-day moving average of $323.09. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $810.42 billion, a price-to-earnings ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. HSBC reduced their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Benchmark cut their price objective on shares of Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $298.59.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.