Edgestream Partners L.P. Sells 7,627 Shares of Tesla, Inc. (NASDAQ:TSLA)

Edgestream Partners L.P. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 43.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,865 shares of the electric vehicle producer’s stock after selling 7,627 shares during the period. Edgestream Partners L.P.’s holdings in Tesla were worth $3,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Hengehold Capital Management LLC lifted its stake in 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 purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its stake in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its stake in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its stake in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC lifted its stake in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 0.3 %

Shares of NASDAQ:TSLA opened at $262.67 on Friday. The stock’s 50-day moving average price is $367.78 and its 200-day moving average price is $318.71. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $844.88 billion, a P/E ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on TSLA shares. Morgan Stanley reiterated a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a research note on Monday, March 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Wednesday, February 12th. Mizuho restated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $327.37.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade 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, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by insiders.

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.