Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Objective Capital Management LLC

Objective Capital Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,635 shares of the electric vehicle producer’s stock after selling 498 shares during the period. Objective Capital Management LLC’s holdings in Tesla were worth $1,064,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in Tesla in the fourth quarter worth $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC grew its position in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $9,435,464.50. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock valued at $116,650,831 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Royal Bank of Canada cut their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Canaccord Genuity Group decreased their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Raymond James lowered Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Finally, Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $293.97.

Tesla Stock Performance

TSLA opened at $362.89 on Wednesday. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The firm has a market capitalization of $1.17 trillion, a P/E ratio of 177.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The stock’s 50 day moving average price is $281.93 and its two-hundred day moving average price is $333.59. 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.