MV Capital Management Inc. Sells 766 Shares of Tesla, Inc. (NASDAQ:TSLA)

MV Capital Management Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,410 shares of the electric vehicle producer’s stock after selling 766 shares during the period. MV Capital Management Inc.’s holdings in Tesla were worth $1,377,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter worth approximately $38,000. Cyrus J. Lawrence LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $404.00 price objective on shares of Tesla in a report on Monday, March 17th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Nine research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $318.34.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $263.55 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50 day simple moving average of $321.33 and a 200 day simple moving average of $321.68. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.