Strategy Asset Managers LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Strategy Asset Managers LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 69.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 556 shares of the electric vehicle producer’s stock after selling 1,286 shares during the period. Strategy Asset Managers LLC’s holdings in Tesla were worth $225,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allianz SE purchased a new position in shares of Tesla in the 4th quarter worth about $43,531,000. Tucker Asset Management LLC increased its stake in Tesla by 20.0% during the 4th quarter. Tucker Asset Management LLC now owns 4,870 shares of the electric vehicle producer’s stock valued at $1,967,000 after purchasing an additional 812 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $188,000. Intrust Bank NA grew its holdings in shares of Tesla by 11.0% during the fourth quarter. Intrust Bank NA now owns 11,806 shares of the electric vehicle producer’s stock valued at $4,768,000 after buying an additional 1,170 shares during the last quarter. Finally, Allstate Corp increased its position in shares of Tesla by 3,285.9% during the fourth quarter. Allstate Corp now owns 85,427 shares of the electric vehicle producer’s stock valued at $34,499,000 after acquiring an additional 82,904 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 3.5 %

Shares of TSLA opened at $263.55 on Friday. The firm has a market cap of $847.71 billion, a P/E ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a 50 day simple moving average of $321.33 and a two-hundred day simple moving average of $322.34.

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

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla 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 of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a research note on Wednesday, March 19th. Guggenheim dropped their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $318.34.

About Tesla

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.