IMA Wealth Inc. Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

IMA Wealth Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,965 shares of the electric vehicle producer’s stock after selling 1,132 shares during the period. Tesla accounts for about 1.2% of IMA Wealth Inc.’s portfolio, making the stock its 29th biggest position. IMA Wealth Inc.’s holdings in Tesla were worth $2,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. International Assets Investment Management LLC increased its holdings in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. grew its stake in shares of Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. California Public Employees Retirement System grew its stake in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after purchasing an additional 2,293,344 shares during the period. Morgan Stanley grew its stake in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research note on Friday, April 19th. Canaccord Genuity Group dropped their price target on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, HSBC dropped their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $186.70.

Tesla Trading Down 1.1 %

Shares of NASDAQ TSLA traded down $1.89 during trading on Friday, hitting $168.29. 109,309,500 shares of the company were exchanged, compared to its average volume of 100,050,800. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The company has a fifty day moving average price of $175.04 and a 200-day moving average price of $208.00. The firm has a market capitalization of $536.71 billion, a PE ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated 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 directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last quarter. Company insiders own 25.10% 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.