Robocap Asset Management Ltd Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Robocap Asset Management Ltd lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 53.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,690 shares of the electric vehicle producer’s stock after selling 7,788 shares during the period. Tesla makes up approximately 1.8% of Robocap Asset Management Ltd’s holdings, making the stock its 21st largest holding. Robocap Asset Management Ltd’s holdings in Tesla were worth $2,702,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TSLA. International Assets Investment Management LLC lifted its position in shares of 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 acquiring an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of 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 valued at $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of 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 acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 acquiring an additional 2,946,763 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 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 acquiring an additional 2,511,488 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 6.3 %

Shares of NASDAQ TSLA opened at $328.50 on Wednesday. The stock has a market capitalization of $1.06 trillion, a PE ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. The stock has a fifty day simple moving average of $408.14 and a 200-day simple moving average of $305.46. Tesla, Inc. has a twelve month low of $138.80 and a twelve 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 released 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’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 transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 635,776 shares of company stock worth $231,335,112. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $321.71.

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.