Cascade Financial Partners LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Cascade Financial Partners LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,109 shares of the electric vehicle producer’s stock after selling 760 shares during the period. Tesla makes up about 1.3% of Cascade Financial Partners LLC’s portfolio, making the stock its 16th biggest holding. Cascade Financial Partners LLC’s holdings in Tesla were worth $9,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Strategic Financial Concepts LLC raised its stake in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after acquiring an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,452 shares of company stock valued at $153,659,530 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.8 %

Shares of NASDAQ TSLA opened at $230.58 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm’s 50 day moving average price is $360.40 and its 200 day moving average price is $319.53. The firm has a market cap of $741.66 billion, a P/E ratio of 113.03, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 announced its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Stifel Nicolaus dropped their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $326.43.

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.