PFG Investments LLC Sells 5,766 Shares of Tesla, Inc. (NASDAQ:TSLA)

PFG Investments LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,892 shares of the electric vehicle producer’s stock after selling 5,766 shares during the period. Tesla makes up about 4.3% of PFG Investments LLC’s holdings, making the stock its 2nd biggest position. PFG Investments LLC’s holdings in Tesla were worth $23,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Co of the South acquired a new stake in Tesla during the 4th quarter worth about $895,000. Sherrill & Hutchins Financial Advisory Inc acquired a new stake in shares of Tesla during the fourth quarter worth approximately $749,000. Sandy Cove Advisors LLC purchased a new position in Tesla during the fourth quarter valued at approximately $349,000. Vision Capital Management Inc. acquired a new position in Tesla in the 4th quarter valued at approximately $322,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Tesla in the 4th quarter worth approximately $2,636,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock worth $36,952,434 in the last ninety days. 20.90% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA traded up $5.04 during trading hours on Tuesday, hitting $177.67. 112,973,935 shares of the company traded hands, compared to its average volume of 103,460,648. The stock has a market capitalization of $565.84 billion, a price-to-earnings ratio of 41.22, a P/E/G ratio of 3.84 and a beta of 2.41. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The firm has a 50-day moving average of $189.34 and a 200 day moving average of $222.86. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, analysts forecast that Tesla, Inc. will post 2.45 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. TD Cowen dropped their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Edward Jones lowered Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Jefferies Financial Group reduced their target price on shares of Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, January 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $208.04.

About Tesla

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.