Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sprott Inc.

Sprott Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,089 shares of the electric vehicle producer’s stock after selling 161 shares during the quarter. Sprott Inc.’s holdings in Tesla were worth $844,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the 4th quarter valued at approximately $46,000. PayPay Securities Corp grew its holdings in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Stifel Nicolaus decreased their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Wednesday, February 12th. Ten investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $319.57.

Tesla Stock Performance

Tesla stock opened at $281.95 on Friday. 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 one year low of $138.80 and a one year high of $488.54. The stock’s 50 day moving average price is $387.91 and its 200 day moving average price is $315.28. The firm has a market capitalization of $906.90 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced 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 net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction 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 of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.