Kovitz Investment Group Partners LLC Sells 164 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kovitz Investment Group Partners LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 890 shares of the electric vehicle producer’s stock after selling 164 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Tesla were worth $223,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Tesla by 18.2% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 555,223 shares of the electric vehicle producer’s stock valued at $138,928,000 after purchasing an additional 85,367 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in Tesla by 1.0% during the third quarter. Texas Permanent School Fund Corp now owns 570,566 shares of the electric vehicle producer’s stock worth $142,767,000 after buying an additional 5,643 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd increased its holdings in Tesla by 310.9% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 7,864 shares of the electric vehicle producer’s stock worth $1,968,000 after buying an additional 5,950 shares during the last quarter. Concentric Wealth Management LLC increased its holdings in Tesla by 4.0% during the third quarter. Concentric Wealth Management LLC now owns 6,458 shares of the electric vehicle producer’s stock worth $1,616,000 after buying an additional 250 shares during the last quarter. Finally, Matthew 25 Management Corp increased its holdings in Tesla by 5.5% during the third quarter. Matthew 25 Management Corp now owns 171,500 shares of the electric vehicle producer’s stock worth $42,913,000 after buying an additional 9,000 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $193.57 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $225.52 and its two-hundred day simple moving average is $236.10. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The stock has a market cap of $616.48 billion, a PE ratio of 44.91, a price-to-earnings-growth ratio of 3.25 and a beta of 2.43.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.66 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 104,716 shares in the company, valued at approximately $26,179,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 104,716 shares in the company, valued at approximately $26,179,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 1,049 shares of Tesla stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the transaction, the senior vice president now directly owns 61,124 shares in the company, valued at $14,935,038.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,222 shares of company stock worth $2,298,583. 20.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Wedbush reissued an “outperform” rating and issued a $315.00 target price on shares of Tesla in a research report on Wednesday, January 31st. Barclays reduced their target price on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a research report on Thursday, January 25th. TD Cowen cut their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Finally, HSBC began coverage on shares of Tesla in a research report on Thursday, November 9th. They set a “reduce” rating and a $146.00 price objective for the company. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $219.89.

Check Out Our Latest Analysis on Tesla

About Tesla

(Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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