Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its position in Tesla, Inc. (NASDAQ:TSLA) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,200 shares of the electric vehicle producer’s stock after selling 2,400 shares during the period. Cullinan Associates Inc.’s holdings in Tesla were worth $10,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TSLA. International Assets Investment Management LLC raised its position in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. raised its position 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 valued at $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Wellington Management Group LLP raised its position 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 valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Finally, Jennison Associates LLC raised its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TSLA. Canaccord Genuity Group boosted their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. UBS Group boosted their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a report on Monday, January 6th. Finally, Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $322.29.

Tesla Stock Performance

Shares of TSLA stock opened at $361.62 on Friday. The company has a market cap of $1.16 trillion, a price-to-earnings ratio of 177.27, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34. The stock has a 50 day simple moving average of $407.94 and a 200-day simple moving average of $302.76. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. 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 (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 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%. On average, equities analysts forecast that Tesla, Inc. will post 2.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 664,776 shares of company stock worth $239,746,862 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.