TCP Asset Management LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

TCP Asset Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 674 shares of the electric vehicle producer’s stock after selling 183 shares during the period. TCP Asset Management LLC’s holdings in Tesla were worth $272,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Acropolis Investment Management LLC raised its stake in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its position in shares of Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares in the last quarter. Connable Office Inc. lifted its stake in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. boosted its position in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares in the last quarter. Finally, Holistic Financial Partners grew its stake in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Truist Financial reaffirmed a “hold” rating and issued a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla Trading Up 3.1 %

TSLA stock opened at $426.50 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company’s 50-day simple moving average is $389.94 and its 200-day simple moving average is $288.78. The firm has a market cap of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by corporate insiders.

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.