Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Mystic Asset Management Inc.

Mystic Asset Management Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,210 shares of the electric vehicle producer’s stock after selling 50 shares during the period. Mystic Asset Management Inc.’s holdings in Tesla were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Leelyn Smith LLC raised its holdings in Tesla by 4.4% in the 4th quarter. Leelyn Smith LLC now owns 11,561 shares of the electric vehicle producer’s stock valued at $4,669,000 after acquiring an additional 487 shares during the last quarter. Petra Financial Advisors Inc. raised its holdings in Tesla by 14.2% in the 4th quarter. Petra Financial Advisors Inc. now owns 1,554 shares of the electric vehicle producer’s stock valued at $628,000 after acquiring an additional 193 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in Tesla by 2.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 59,495 shares of the electric vehicle producer’s stock valued at $24,026,000 after acquiring an additional 1,623 shares during the last quarter. Tocqueville Asset Management L.P. grew its stake in shares of Tesla by 20.7% in the 4th quarter. Tocqueville Asset Management L.P. now owns 1,137 shares of the electric vehicle producer’s stock valued at $459,000 after buying an additional 195 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $444,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. Stifel Nicolaus dropped their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Glj Research reissued a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 price target on shares of Tesla in a research note on Monday. Finally, TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $319.25.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $225.31 on Wednesday. The company’s fifty day moving average price is $344.47 and its 200 day moving average price is $320.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. 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 capitalization of $724.71 billion, a P/E ratio of 110.45, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced 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%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last ninety days. 20.70% of the stock is owned by corporate insiders.

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.