Chevy Chase Trust Holdings LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Chevy Chase Trust Holdings LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,552,755 shares of the electric vehicle producer's stock after selling 6,130 shares during the period. Tesla accounts for about 1.4% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 11th biggest position. Chevy Chase Trust Holdings LLC's holdings in Tesla were worth $385,829,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TSLA. Axiom Financial Strategies LLC increased its stake in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer's stock worth $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer's stock valued at $1,079,672,000 after buying an additional 164,789 shares during the last quarter. MAS Advisors LLC grew its stake in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer's stock valued at $433,000 after buying an additional 81 shares during the last quarter. Ergoteles LLC grew its stake in shares of Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer's stock valued at $3,844,000 after buying an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer's stock valued at $77,767,000 after buying an additional 4,593 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Edward Jones cut Tesla from a "buy" rating to a "hold" rating in a research note on Friday, January 26th. Morgan Stanley dropped their price objective on Tesla from $320.00 to $310.00 and set an "overweight" rating on the stock in a research note on Thursday. Sanford C. Bernstein dropped their price objective on Tesla from $150.00 to $120.00 and set an "underperform" rating on the stock in a research note on Tuesday, March 26th. China Renaissance assumed coverage on Tesla in a research note on Monday, February 26th. They issued a "hold" rating on the stock. Finally, Oppenheimer reissued a "market perform" rating on shares of Tesla in a research note on Tuesday. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $201.63.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company's stock, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 25.10% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded up $2.73 during trading hours on Thursday, hitting $171.11. The company had a trading volume of 122,851,364 shares, compared to its average volume of 102,582,336. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company has a market cap of $544.95 billion, a PE ratio of 39.67, a price-to-earnings-growth ratio of 3.13 and a beta of 2.39. The business has a 50 day moving average of $184.02 and a 200-day moving average of $218.56.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the company earned $1.07 EPS. The business's revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 2.38 EPS for the current year.

Tesla 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.

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