RWQ Financial Management Services Inc. Has $15.95 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

RWQ Financial Management Services Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,505 shares of the electric vehicle producer’s stock after selling 41,194 shares during the period. Tesla makes up 6.2% of RWQ Financial Management Services Inc.’s investment portfolio, making the stock its 10th biggest position. RWQ Financial Management Services Inc.’s holdings in Tesla were worth $15,954,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TSLA. Strategic Financial Concepts LLC lifted its stake in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after purchasing an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Oppenheimer restated a “mixed” rating on shares of Tesla in a research report on Tuesday. Glj Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $319.56.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.2 %

Shares of NASDAQ TSLA opened at $236.26 on Friday. The firm’s 50 day moving average price is $338.11 and its 200-day moving average price is $319.44. The company has a market cap of $759.93 billion, a PE ratio of 115.81, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.