Capital Research Global Investors Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Capital Research Global Investors lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,840,186 shares of the electric vehicle producer’s stock after selling 2,789,981 shares during the quarter. Capital Research Global Investors owned about 0.24% of Tesla worth $3,166,265,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TSLA. Destination Wealth Management grew its holdings in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its stake in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the last quarter. Worth Asset Management LLC increased its position in Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after buying an additional 6,593 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its stake in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its holdings in shares of Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after acquiring an additional 29,458 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $241.17 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business has a fifty day moving average of $273.93 and a 200-day moving average of $322.21. The stock has a market cap of $775.71 billion, a price-to-earnings ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced 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%. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on TSLA shares. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. HSBC reduced their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Truist Financial lowered their price target on Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. Finally, Mizuho lowered their target price on Tesla from $430.00 to $375.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $292.18.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value 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. This trade represents a 12.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 374,228 shares of company stock valued at $123,791,123. Company 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.