Mattern Capital Management LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mattern Capital Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,281 shares of the electric vehicle producer’s stock after selling 2,086 shares during the period. Mattern Capital Management LLC’s holdings in Tesla were worth $1,729,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Hengehold Capital Management LLC grew its stake in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC grew its position in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its stake in 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 purchasing an additional 25 shares during the period. Finally, Vista Finance LLC increased its stake in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Evercore ISI raised their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. UBS Group lifted their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $319.57.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock valued at $195,995,200 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 4.7 %

TSLA stock opened at $337.80 on Monday. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a fifty day moving average price of $400.17 and a 200 day moving average price of $314.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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%. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.