Weinberger Asset Management Inc Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Weinberger Asset Management Inc decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 772 shares of the electric vehicle producer’s stock after selling 198 shares during the period. Weinberger Asset Management Inc’s holdings in Tesla were worth $312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares in the last quarter. FMR LLC boosted its holdings in shares of Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 3.0 %

Shares of NASDAQ TSLA opened at $281.95 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market cap of $906.90 billion, a price-to-earnings ratio of 138.21, a PEG ratio of 5.86 and a beta of 2.34. The business’s 50 day moving average price is $387.91 and its 200-day moving average price is $315.28. 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 (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a report on Tuesday. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Wedbush set a $328.50 price objective on Tesla in a research report on Wednesday, February 12th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued 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 an average target price of $319.57.

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.