Tesla, Inc. (NASDAQ:TSLA) is Alcosta Capital Management Inc.’s 10th Largest Position

Alcosta Capital Management Inc. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,093 shares of the electric vehicle producer’s stock after selling 421 shares during the quarter. Tesla comprises about 4.3% of Alcosta Capital Management Inc.’s portfolio, making the stock its 10th largest position. Alcosta Capital Management Inc.’s holdings in Tesla were worth $7,307,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. boosted its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the 4th quarter valued at about $38,000. Delos Wealth Advisors LLC grew its holdings in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Truist Financial cut their price target on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. UBS Group decreased their target price on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Finally, Guggenheim dropped their price target on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $312.65.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale 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 the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $239.43 on Friday. The company has a market cap of $770.13 billion, a P/E ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The firm has a fifty day moving average price of $305.98 and a 200 day moving average price of $323.56. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.