Rehmann Capital Advisory Group Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Rehmann Capital Advisory Group lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,900 shares of the electric vehicle producer's stock after selling 1,051 shares during the period. Rehmann Capital Advisory Group's holdings in Tesla were worth $6,421,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 486,618 shares of company stock worth $155,887,459 in the last ninety days. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSLA shares. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and boosted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Argus set a $410.00 price objective on Tesla in a report on Thursday, April 24th. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price for the company in a report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Finally, Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $287.46.

Tesla Price Performance

NASDAQ TSLA traded down $1.64 during mid-day trading on Thursday, hitting $280.52. The stock had a trading volume of 98,993,540 shares, compared to its average volume of 95,679,436. The firm's 50 day moving average is $259.13 and its 200 day moving average is $324.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $903.54 billion, a price-to-earnings ratio of 137.51, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the business posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.