Transcend Capital Advisors LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Transcend Capital Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,551 shares of the electric vehicle producer’s stock after selling 1,220 shares during the period. Transcend Capital Advisors LLC’s holdings in Tesla were worth $4,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wyrmwood Management LLC bought a new position in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new position in Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV grew its position in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 69 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. grew its position in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HSBC reduced their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Barclays cut their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Finally, Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $186.70.

Tesla Stock Down 1.1 %

Shares of TSLA stock traded down $1.89 during mid-day trading on Friday, hitting $168.29. The company’s stock had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The business has a 50-day moving average price of $175.04 and a 200 day moving average price of $208.00. 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 stock 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share 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 business had revenue of $25.17 billion during 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 for the quarter was up 3.5% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last 90 days. 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.