Tesla, Inc. (NASDAQ:TSLA) Holdings Lowered by TIAA Trust National Association

TIAA Trust National Association lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,142 shares of the electric vehicle producer's stock after selling 26,426 shares during the quarter. TIAA Trust National Association's holdings in Tesla were worth $19,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MidWestOne Financial Group Inc. lifted its stake in Tesla by 3.3% in the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer's stock valued at $509,000 after acquiring an additional 15 shares during the last quarter. City State Bank lifted its stake in Tesla by 3.3% in the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer's stock valued at $315,000 after acquiring an additional 40 shares during the last quarter. Marcum Wealth LLC lifted its stake in Tesla by 0.6% in the third quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer's stock valued at $1,850,000 after acquiring an additional 41 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in Tesla by 3.5% in the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer's stock valued at $1,329,000 after acquiring an additional 42 shares during the last quarter. Finally, Investors Research Corp lifted its stake in Tesla by 5.5% in the second quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer's stock valued at $210,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,598 shares of company stock worth $36,952,434. Corporate insiders own 20.90% of the company's stock.

Tesla Price Performance

Shares of TSLA traded down $8.59 during mid-day trading on Tuesday, reaching $166.63. The company had a trading volume of 116,441,580 shares, compared to its average volume of 102,568,922. The company's 50 day simple moving average is $185.65 and its 200 day simple moving average is $219.67. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company has a market capitalization of $530.68 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 3.97 and a beta of 2.40.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.44 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. Daiwa Capital Markets lowered shares of Tesla from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Guggenheim increased their price objective on shares of Tesla from $125.00 to $132.00 and gave the company a "sell" rating in a research report on Friday, December 15th. Citigroup dropped their price objective on shares of Tesla from $224.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, January 26th. Finally, Barclays dropped their price objective on shares of Tesla from $250.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $203.89.

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.