Seaview Investment Managers LLC Sells 14,654 Shares of Tesla, Inc. (NASDAQ:TSLA)

Seaview Investment Managers LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 48.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,459 shares of the electric vehicle producer's stock after selling 14,654 shares during the quarter. Seaview Investment Managers LLC's holdings in Tesla were worth $3,841,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer's stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares during the last quarter. Morgan Stanley lifted its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer's stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. FMR LLC boosted its stake in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer's stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the period. Northern Trust Corp increased its stake in 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 buying an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Tesla by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer's stock worth $3,677,502,000 after acquiring an additional 496,299 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock traded down $3.29 during trading hours on Wednesday, hitting $179.99. 92,577,555 shares of the stock traded hands, compared to its average volume of 105,217,711. The firm's 50 day moving average price is $174.41 and its 200-day moving average price is $206.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market capitalization of $574.02 billion, a price-to-earnings ratio of 45.92, a P/E/G ratio of 5.28 and a beta of 2.39. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was 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 owns 15,000 shares of the company's stock, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. 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 quarter. 20.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. HSBC lowered their price target on Tesla from $138.00 to $120.00 and set a "reduce" rating for the company in a report on Wednesday, April 24th. UBS Group decreased their price objective on Tesla from $160.00 to $147.00 and set a "neutral" rating for the company in a report on Wednesday, April 24th. China Renaissance started coverage on shares of Tesla in a report on Monday, February 26th. They set a "hold" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Bank of America upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $184.32.

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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