LM Advisors LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

LM Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,107 shares of the electric vehicle producer’s stock after selling 98 shares during the quarter. LM Advisors LLC’s holdings in Tesla were worth $3,678,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC grew its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management grew its stake in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC increased its holdings in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares in the last quarter. Vinva Investment Management Ltd raised its holdings in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares during the period. Finally, MML Investors Services LLC lifted its position in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 5.6 %

TSLA opened at $272.06 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $875.09 billion, a price-to-earnings ratio of 133.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm has a 50 day simple moving average of $327.40 and a 200 day simple moving average of $321.69.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their price target on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company 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.