EFG Asset Management Americas Corp. Sells 231 Shares of Tesla, Inc. (NASDAQ:TSLA)

EFG Asset Management Americas Corp. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,752 shares of the electric vehicle producer’s stock after selling 231 shares during the period. Tesla makes up 1.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 26th largest holding. EFG Asset Management Americas Corp.’s holdings in Tesla were worth $5,957,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. World Investment Advisors LLC boosted its position in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Destination Wealth Management raised its stake in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC grew its stake in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares in the last quarter. Vinva Investment Management Ltd grew 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 acquiring an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSLA shares. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. UBS Group restated a “neutral” rating on shares of Tesla in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Barclays boosted their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Nine investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $327.37.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares in the company, valued at $25,466,850. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,452 shares of company stock valued at $153,659,530. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.3 %

Shares of NASDAQ TSLA opened at $262.67 on Friday. The stock has a market cap of $844.88 billion, a P/E ratio of 128.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a 50-day moving average of $367.78 and a 200 day moving average of $318.03.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, sell-side 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.