Insight Advisors LLC PA Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Insight Advisors LLC PA lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,897 shares of the electric vehicle producer’s stock after selling 838 shares during the quarter. Tesla makes up 0.6% of Insight Advisors LLC PA’s investment portfolio, making the stock its 23rd largest position. Insight Advisors LLC PA’s holdings in Tesla were worth $3,714,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. World Investment Advisors LLC raised its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management raised its stake in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd boosted its position in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC increased its holdings in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 560,776 shares of company stock valued at $203,744,862 in the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 3.4 %

Shares of NASDAQ:TSLA opened at $361.62 on Monday. The firm has a market cap of $1.16 trillion, a PE ratio of 177.27, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a fifty day simple moving average of $408.27 and a 200 day simple moving average of $303.93. 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 released 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%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Morgan Stanley raised their price objective on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Mizuho reissued an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $440.00 price target on shares of Tesla in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $322.29.

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.