Life Planning Partners Inc Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Life Planning Partners Inc lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,089 shares of the electric vehicle producer’s stock after selling 300 shares during the quarter. Life Planning Partners Inc’s holdings in Tesla were worth $1,248,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $955,052,000 after buying an additional 194,796 shares during the period. United Bank purchased a new stake in Tesla during the third quarter worth about $287,000. Quantbot Technologies LP acquired a new stake in shares of Tesla during the third quarter worth about $687,000. Hantz Financial Services Inc. boosted its stake in shares of Tesla by 9.6% in the third quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 721 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC increased its stake in Tesla by 1.6% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 17,247 shares of the electric vehicle producer’s stock worth $4,512,000 after buying an additional 279 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA opened at $263.55 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $321.33 and its 200 day moving average price is $322.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley cut their price target on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Cantor Fitzgerald upgraded shares of 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. Finally, StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $318.34.

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.