Zacks Investment Management Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Zacks Investment Management lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 271,243 shares of the electric vehicle producer’s stock after selling 12,217 shares during the period. Tesla makes up 1.0% of Zacks Investment Management’s portfolio, making the stock its 22nd largest position. Zacks Investment Management’s holdings in Tesla were worth $109,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Horrell Capital Management Inc. grew its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in Tesla during the 4th quarter valued at $38,000. Delos Wealth Advisors LLC boosted its holdings in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in Tesla in the fourth quarter valued at $44,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other 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 value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of TSLA opened at $254.11 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company’s fifty day moving average price is $280.27 and its 200-day moving average price is $323.03. 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 $817.35 billion, a PE ratio of 124.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Piper Sandler cut their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Stifel Nicolaus dropped their target price on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group reduced their price objective on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $298.59.

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.