Tesla, Inc. (NASDAQ:TSLA) Shares Sold by TCW Group Inc.

TCW Group Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,984 shares of the electric vehicle producer’s stock after selling 768 shares during the period. TCW Group Inc.’s holdings in Tesla were worth $84,396,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Hengehold Capital Management LLC boosted its holdings in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC grew its position in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its stake in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 8.4 %

Shares of TSLA opened at $302.80 on Wednesday. The stock’s fifty day simple moving average is $393.98 and its 200 day simple moving average is $315.69. The firm has a market capitalization of $973.96 billion, a P/E ratio of 148.43, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 30th. Piper Sandler raised their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $319.57.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’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 directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 in the last quarter. 20.70% of the stock is owned by corporate insiders.

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.