Ballentine Partners LLC Sells 1,122 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ballentine Partners LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,246 shares of the electric vehicle producer’s stock after selling 1,122 shares during the period. Ballentine Partners LLC’s holdings in Tesla were worth $9,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Tesla during the third quarter valued at $25,000. Wyrmwood Management LLC bought a new stake in shares of Tesla during the fourth quarter valued at approximately $25,000. Halpern Financial Inc. lifted its holdings in shares of Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla during the third quarter valued at $27,000. Finally, MayTech Global Investments LLC bought a new stake in Tesla in the 4th quarter worth about $30,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSLA. UBS Group lowered their price target on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. TD Cowen dropped their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Piper Sandler cut their price objective on Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $320.00 target price on shares of Tesla in a research report on Wednesday, March 27th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $202.00.

Read Our Latest Stock Report on Tesla

Tesla Stock Up 1.1 %

Tesla stock traded up $1.75 during trading on Wednesday, reaching $168.38. 82,102,156 shares of the company’s stock were exchanged, compared to its average volume of 102,254,570. The company’s 50-day moving average is $184.80 and its two-hundred day moving average is $218.91. The firm has a market cap of $536.26 billion, a price-to-earnings ratio of 38.95, a PEG ratio of 4.06 and a beta of 2.39. Tesla, Inc. has a 52-week low of $152.37 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter last year, the firm posted $1.07 earnings per share. Tesla’s revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,598 shares of company stock worth $36,952,434. Insiders own 25.10% of the company’s stock.

About Tesla

(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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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