TIAA Trust National Association cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 24.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,142 shares of the electric vehicle producer’s stock after selling 26,426 shares during the quarter. TIAA Trust National Association’s holdings in Tesla were worth $19,914,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TSLA. Norges Bank acquired a new stake in Tesla during the 4th quarter worth about $3,459,540,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after buying an additional 13,558,882 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Tesla by 26.3% during the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after buying an additional 5,292,464 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Tesla by 4.4% during the 2nd quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock valued at $27,254,286,000 after buying an additional 4,431,570 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 198,598 shares of company stock worth $36,952,434 over the last ninety days. 20.90% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages recently weighed in on TSLA. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday. The Goldman Sachs Group cut their price objective on Tesla from $220.00 to $190.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Canaccord Genuity Group cut their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Sanford C. Bernstein cut their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Finally, Barclays cut their price objective on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $203.89.
View Our Latest Report on Tesla
Tesla Trading Down 4.9 %
NASDAQ TSLA traded down $8.59 on Tuesday, reaching $166.63. The company had a trading volume of 115,486,058 shares, compared to its average volume of 102,549,664. The stock’s 50 day moving average is $185.65 and its 200-day moving average is $219.67. The stock has a market cap of $530.68 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 3.97 and a beta of 2.40. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52 week low of $152.37 and a 52 week high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. Equities analysts predict that Tesla, Inc. will post 2.44 earnings per share for the current year.
Tesla Profile
(Free Report)
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.
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