SOL Capital Management CO Sells 100 Shares of Tesla, Inc. (NASDAQ:TSLA)

SOL Capital Management CO trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,836 shares of the electric vehicle producer’s stock after selling 100 shares during the quarter. SOL Capital Management CO’s holdings in Tesla were worth $4,376,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. World Investment Advisors LLC increased its position in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management increased its position in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd increased its position in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares in the last quarter. MML Investors Services LLC increased its position in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSLA shares. Stifel Nicolaus upped their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Canaccord Genuity Group increased their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Guggenheim reissued a “sell” rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $318.31.

Tesla Stock Down 5.2 %

Tesla stock opened at $383.68 on Tuesday. 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 $1.23 trillion, a price-to-earnings ratio of 188.08, a PEG ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business has a fifty day moving average price of $404.22 and a 200-day moving average price of $299.70.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts forecast that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated 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 trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 553,386 shares of company stock valued at $196,305,796. 20.70% of the stock is owned by company 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.