IvyRock Asset Management HK Ltd Sells 1,300 Shares of Tesla, Inc. (NASDAQ:TSLA)

IvyRock Asset Management HK Ltd trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,786 shares of the electric vehicle producer’s stock after selling 1,300 shares during the period. Tesla accounts for 8.7% of IvyRock Asset Management HK Ltd’s investment portfolio, making the stock its 4th biggest holding. IvyRock Asset Management HK Ltd’s holdings in Tesla were worth $19,702,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. raised its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the 4th quarter valued at about $38,000. Cyrus J. Lawrence LLC bought a new stake in shares of Tesla in the 4th quarter valued at approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter worth approximately $46,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ:TSLA opened at $278.39 on Tuesday. 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 fifty day simple moving average of $332.69 and a 200 day simple moving average of $321.49. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $895.45 billion, a PE ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Evercore ISI increased their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Guggenheim decreased their price target on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla 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.