Russell Investments Group Ltd. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Russell Investments Group Ltd. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,022,377 shares of the electric vehicle producer’s stock after selling 67,884 shares during the quarter. Tesla accounts for about 0.5% of Russell Investments Group Ltd.’s holdings, making the stock its 25th biggest holding. Russell Investments Group Ltd.’s holdings in Tesla were worth $255,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.6% in 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 acquiring an additional 3,453,078 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Tesla by 34.0% in 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 acquiring an additional 2,293,344 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 3.4% in 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 acquiring an additional 909,170 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by company insiders.

Tesla Trading Down 1.1 %

Shares of TSLA traded down $1.89 during trading hours on Friday, reaching $168.29. 109,309,500 shares of the company traded hands, compared to its average volume of 100,050,800. The firm has a market cap of $536.71 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.50 and a beta of 2.39. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $175.04 and its 200 day moving average price is $208.00.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSLA shares. Wells Fargo & Company lowered their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Wednesday. Canaccord Genuity Group lowered their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group lowered their price target on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Finally, KGI Securities reiterated a “neutral” rating and set a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $186.70.

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.