Interchange Capital Partners LLC Sells 1,239 Shares of Tesla, Inc. (NASDAQ:TSLA)

Interchange Capital Partners LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,214 shares of the electric vehicle producer’s stock after selling 1,239 shares during the quarter. Tesla comprises 1.8% of Interchange Capital Partners LLC’s portfolio, making the stock its 9th largest holding. Interchange Capital Partners LLC’s holdings in Tesla were worth $4,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Swedbank AB grew its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares in the last quarter. United Bank bought a new position in Tesla in the 3rd quarter worth approximately $287,000. Advisors Asset Management Inc. boosted its stake in Tesla by 0.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock valued at $2,347,000 after purchasing an additional 80 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Tesla by 61.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock valued at $30,151,000 after purchasing an additional 43,950 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This 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 have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Barclays increased their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stifel Nicolaus decreased their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Robert W. Baird decreased their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $318.93.

Tesla Price Performance

NASDAQ TSLA opened at $248.71 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $335.19 and its two-hundred day moving average is $321.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $799.98 billion, a P/E ratio of 121.92, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.