TCV Trust & Wealth Management Inc. Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

TCV Trust & Wealth Management Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 989 shares of the electric vehicle producer’s stock after selling 50 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Tesla were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Leavell Investment Management Inc. boosted its stake in shares of Tesla by 6.1% in the 4th quarter. Leavell Investment Management Inc. now owns 9,558 shares of the electric vehicle producer’s stock worth $3,860,000 after buying an additional 551 shares during the last quarter. Fishman Jay A Ltd. MI purchased a new position in shares of Tesla in the 4th quarter worth $233,000. Fortress Financial Solutions LLC purchased a new position in shares of Tesla in the 4th quarter worth $1,180,000. Gradient Capital Advisors LLC boosted its stake in shares of Tesla by 1.5% in the 4th quarter. Gradient Capital Advisors LLC now owns 24,028 shares of the electric vehicle producer’s stock worth $9,703,000 after buying an additional 347 shares during the last quarter. Finally, Augustine Asset Management Inc. bought a new position in Tesla in the 4th quarter worth $346,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on TSLA. Wells Fargo & Company raised their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. UBS Group raised their target price on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Wednesday. Finally, Morgan Stanley raised their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $326.50.

Tesla Stock Down 0.0 %

Shares of NASDAQ:TSLA opened at $355.84 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business has a 50 day simple moving average of $406.31 and a two-hundred day simple moving average of $307.64. The firm has a market capitalization of $1.14 trillion, a PE ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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 analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.