Zacks Investment Management Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Zacks Investment Management decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 271,243 shares of the electric vehicle producer's stock after selling 12,217 shares during the quarter. Tesla makes up 1.0% of Zacks Investment Management's portfolio, making the stock its 22nd biggest holding. Zacks Investment Management's holdings in Tesla were worth $109,539,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after buying an additional 194,796 shares in the last quarter. M&T Bank Corp raised its position in shares of Tesla by 13.3% during the 3rd quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer's stock valued at $89,332,000 after purchasing an additional 39,961 shares during the period. McIlrath & Eck LLC increased its stake in Tesla by 6.0% in the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer's stock worth $890,000 after buying an additional 192 shares in the last quarter. Advisory Resource Group boosted its stake in shares of Tesla by 1.2% in the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer's stock worth $1,115,000 after acquiring an additional 50 shares during the period. Finally, Morse Asset Management Inc grew its position in shares of Tesla by 46.0% during the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer's stock worth $2,279,000 after purchasing an additional 2,743 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The shares were 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 owns 85,000 shares of the company's stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,228 shares of company stock valued at $123,791,123. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Down 0.2 %

Shares of Tesla stock traded down $0.39 during mid-day trading on Friday, hitting $241.17. The stock had a trading volume of 83,173,157 shares, compared to its average volume of 96,033,445. The firm has a market cap of $775.71 billion, a P/E ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $273.93 and a two-hundred day moving average of $322.72.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSLA shares. Benchmark lowered their price target on Tesla from $475.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Canaccord Genuity Group reissued a "buy" rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Mizuho reduced their target price on Tesla from $430.00 to $375.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $292.18.

Tesla Company 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.