Walker Asset Management LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Walker Asset Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,716 shares of the electric vehicle producer’s stock after selling 34 shares during the quarter. Tesla makes up 2.7% of Walker Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. Walker Asset Management LLC’s holdings in Tesla were worth $4,328,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. World Investment Advisors LLC boosted its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management boosted its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd boosted its position in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the last quarter. MML Investors Services LLC boosted its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. 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 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.1 %

TSLA opened at $426.50 on Friday. The company has a 50 day moving average of $389.94 and a 200 day moving average of $288.09. The company has a market cap of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Stifel Nicolaus upped their price objective on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $299.33.

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.