Hazlett Burt & Watson Inc. Sells 266 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hazlett Burt & Watson Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 28.1% in the fourth quarter, Holdings Channel reports. The fund owned 682 shares of the electric vehicle producer’s stock after selling 266 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Tesla were worth $273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in Tesla during the fourth quarter valued at $38,000. Delos Wealth Advisors LLC raised its stake in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSLA. Morgan Stanley reduced their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $318.34.

Tesla Stock Performance

Shares of TSLA stock opened at $263.55 on Monday. The business has a fifty day moving average of $321.33 and a 200 day moving average of $323.01. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. 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 firm has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its 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, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.