Biltmore Family Office LLC Sells 85 Shares of Tesla, Inc. (NASDAQ:TSLA)

Biltmore Family Office LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,294 shares of the electric vehicle producer’s stock after selling 85 shares during the period. Biltmore Family Office LLC’s holdings in Tesla were worth $926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in Tesla by 5.6% during 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 purchasing an additional 194,796 shares in the last quarter. United Bank purchased a new stake in Tesla in the 3rd quarter valued at $287,000. Hilltop Holdings Inc. lifted its stake in Tesla by 47.6% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,742 shares of the electric vehicle producer’s stock valued at $2,026,000 after acquiring an additional 2,495 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Tesla by 4.6% during the 3rd quarter. Janus Henderson Group PLC now owns 444,091 shares of the electric vehicle producer’s stock worth $116,184,000 after acquiring an additional 19,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Tesla in the 3rd quarter worth $13,516,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 5.3 %

Shares of TSLA opened at $282.76 on Thursday. The stock has a market capitalization of $909.50 billion, a P/E ratio of 138.61, a PEG ratio of 5.86 and a beta of 2.50. The firm has a fifty day simple moving average of $312.22 and a two-hundred day simple moving average of $323.20. 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, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

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

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $404.00 price target on shares of Tesla in a report on Monday, March 17th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a research note on Wednesday, March 19th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $317.75.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Company 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.