Houlihan Financial Resource Group Ltd. Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Houlihan Financial Resource Group Ltd. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,099 shares of the electric vehicle producer’s stock after selling 60 shares during the quarter. Houlihan Financial Resource Group Ltd.’s holdings in Tesla were worth $444,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the 4th quarter worth about $38,000. Cyrus J. Lawrence LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla during the fourth quarter valued at approximately $46,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Evercore ISI increased their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Royal Bank of Canada reduced their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $318.93.

Tesla Stock Up 11.9 %

Shares of Tesla stock opened at $278.39 on Tuesday. The business has a 50-day moving average price of $332.69 and a 200 day moving average price of $321.49. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market cap of $895.45 billion, a P/E ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla 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.