Financial Counselors Inc. Sells 7,350 Shares of Tesla, Inc. (NASDAQ:TSLA)

Financial Counselors Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,008 shares of the electric vehicle producer's stock after selling 7,350 shares during the quarter. Financial Counselors Inc.'s holdings in Tesla were worth $44,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Tesla during the 3rd quarter worth $25,000. Wyrmwood Management LLC purchased a new stake in Tesla in the fourth quarter valued at about $25,000. Halpern Financial Inc. raised its stake in Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new stake in Tesla in the third quarter valued at about $27,000. Finally, MayTech Global Investments LLC purchased a new stake in Tesla in the fourth quarter valued at about $30,000. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Daiwa Capital Markets cut Tesla from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Morgan Stanley reduced their price objective on Tesla from $320.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, April 4th. TD Cowen reduced their price objective on Tesla from $200.00 to $180.00 and set a "market perform" rating for the company in a research note on Thursday, January 25th. Guggenheim raised their price objective on Tesla from $125.00 to $132.00 and gave the stock a "sell" rating in a research note on Friday, December 15th. Finally, Barclays reduced their price objective on Tesla from $250.00 to $225.00 and set an "equal weight" rating for the company in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $199.59.

Insider Activity

In other 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 directly owns 63,171 shares of the company's stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction on 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 transaction, 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 the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business's 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 transaction, 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. 20.90% of the stock is currently owned by corporate insiders.

Tesla Trading Down 2.9 %

NASDAQ:TSLA traded down $5.12 on Wednesday, reaching $171.76. The company's stock had a trading volume of 84,332,830 shares, compared to its average volume of 102,946,250. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm has a market cap of $547.02 billion, a price-to-earnings ratio of 39.85, a price-to-earnings-growth ratio of 3.40 and a beta of 2.39. The stock has a 50 day moving average price of $182.45 and a 200 day moving average price of $215.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS 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 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. Tesla's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.27 EPS for the current fiscal year.

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.

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