Polymer Capital Management HK LTD Sells 4,737 Shares of Tesla, Inc. (NASDAQ:TSLA)

Polymer Capital Management HK LTD trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,163 shares of the electric vehicle producer’s stock after selling 4,737 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Tesla were worth $4,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Hengehold Capital Management LLC grew its holdings in shares of Tesla by 1.8% in the fourth 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 in the last quarter. Strategic Investment Advisors MI lifted its position in Tesla by 0.3% during 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 last quarter. Acropolis Investment Management LLC grew its stake in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD increased its holdings in shares of Tesla by 0.3% in the 4th 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, Vista Finance LLC raised its position in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Benchmark initiated coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Mizuho dropped their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Piper Sandler reduced their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, Guggenheim dropped their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $312.65.

Tesla Trading Down 10.4 %

Shares of NASDAQ:TSLA opened at $239.43 on Friday. 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 company has a market capitalization of $770.13 billion, a PE ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business’s fifty day simple moving average is $305.98 and its 200-day simple moving average is $323.56.

Tesla (NASDAQ:TSLA) last released 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last 90 days. Insiders own 20.70% of the company’s stock.

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.