Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Altimeter Capital Management LP

Altimeter Capital Management LP trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,130 shares of the electric vehicle producer's stock after selling 307,270 shares during the period. Tesla accounts for 2.6% of Altimeter Capital Management LP's holdings, making the stock its 9th largest position. Altimeter Capital Management LP's holdings in Tesla were worth $143,416,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TSLA. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the 4th quarter worth $37,000. CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter valued at about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Tesla in the fourth quarter valued at about $39,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 486,618 shares of company stock worth $155,887,459. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Guggenheim reaffirmed a "sell" rating and issued a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Wells Fargo & Company cut their price target on 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 decreased their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $287.46.

Tesla Stock Performance

Tesla stock opened at $287.21 on Friday. The firm's 50 day simple moving average is $258.82 and its 200 day simple moving average is $324.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market capitalization of $925.09 billion, a PE ratio of 140.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, analysts expect 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.

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