Platform Technology Partners Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Platform Technology Partners cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 11,299 shares of the electric vehicle producer’s stock after selling 91 shares during the quarter. Tesla comprises about 1.4% of Platform Technology Partners’ holdings, making the stock its 14th largest position. Platform Technology Partners’ holdings in Tesla were worth $4,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hengehold Capital Management LLC increased its stake in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI increased its stake in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC increased its stake in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its stake in shares of 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 buying an additional 25 shares during the period. Finally, Prospect Financial Services LLC increased its stake in shares of Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after buying an additional 26 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 6.3 %

NASDAQ:TSLA opened at $328.50 on Wednesday. The stock has a fifty day moving average price of $408.14 and a two-hundred day moving average price of $305.46. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Guggenheim restated a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Wedbush upped their price target on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group upped their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays upped their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $321.71.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction 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 owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 635,776 shares of company stock worth $231,335,112. 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.