Archer Investment Corp Sells 241 Shares of Tesla, Inc. (NASDAQ:TSLA)

Archer Investment Corp lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,271 shares of the electric vehicle producer’s stock after selling 241 shares during the period. Archer Investment Corp’s holdings in Tesla were worth $513,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Hengehold Capital Management LLC raised its position in Tesla by 1.8% in the 4th 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 increased 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 period. Acropolis Investment Management LLC raised its holdings in shares of 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 buying an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC increased its position in Tesla by 0.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after acquiring an additional 26 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated 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 directly owns 85,000 shares in the company, 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 have sold a total of 635,776 shares of company stock worth $231,335,112 over the last quarter. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Bank of America lowered Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Mizuho reiterated an “outperform” rating and issued a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Finally, Robert W. Baird lowered their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $321.71.

Tesla Stock Down 6.3 %

Shares of NASDAQ:TSLA opened at $328.50 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.06 trillion, a PE ratio of 161.03, 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 $408.14 and a 200 day simple moving average of $305.46.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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.

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.