Zevenbergen Capital Investments LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Zevenbergen Capital Investments LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 13.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,033,665 shares of the electric vehicle producer’s stock after selling 157,488 shares during the quarter. Tesla comprises 8.5% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 2nd largest holding. Zevenbergen Capital Investments LLC’s holdings in Tesla were worth $417,435,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Grantvest Financial Group LLC bought a new stake in Tesla during the fourth quarter valued at approximately $512,000. Prudential Financial Inc. grew its stake in shares of Tesla by 0.5% during the fourth quarter. Prudential Financial Inc. now owns 2,637,631 shares of the electric vehicle producer’s stock valued at $1,065,181,000 after buying an additional 13,001 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $773,000. Woodmont Investment Counsel LLC purchased a new stake in Tesla during the 4th quarter valued at about $1,162,000. Finally, Clune & Associates LTD. bought a new position in Tesla during the 4th quarter worth approximately $462,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $248.71 on Monday. The company has a market capitalization of $799.98 billion, a price-to-earnings ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average of $335.19 and a 200-day moving average of $321.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

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, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other 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 completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Truist Financial increased 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. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Nine investment 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 stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $318.93.

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.