Symmetry Partners LLC Sells 1,211 Shares of Tesla, Inc. (NASDAQ:TSLA)

Symmetry Partners LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 63.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 685 shares of the electric vehicle producer’s stock after selling 1,211 shares during the period. Symmetry Partners LLC’s holdings in Tesla were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Contrarius Group Holdings Ltd purchased a new position in shares of Tesla in the fourth quarter valued at about $167,816,000. Magnetar Financial LLC purchased a new position in shares of Tesla in the fourth quarter valued at about $564,000. Teacher Retirement System of Texas increased its position in shares of Tesla by 71.7% in the fourth quarter. Teacher Retirement System of Texas now owns 884,980 shares of the electric vehicle producer’s stock valued at $357,390,000 after acquiring an additional 369,612 shares during the period. GS Investments Inc. increased its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Finally, First National Bank of Hutchinson purchased a new position in shares of Tesla in the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 4.7 %

Shares of TSLA stock opened at $235.86 on Thursday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $758.65 billion, a P/E ratio of 115.62, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a 50 day simple moving average of $341.28 and a two-hundred day simple moving average of $320.02.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. Oppenheimer restated a “mixed” rating on shares of Tesla in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird reduced their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $321.12.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction 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 directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. 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.