SNS Financial Group LLC Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

SNS Financial Group LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,505 shares of the electric vehicle producer’s stock after selling 968 shares during the quarter. SNS Financial Group LLC’s holdings in Tesla were worth $3,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Financial Concepts LLC grew its holdings in Tesla by 36,790.0% during the 4th 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 purchasing an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Tesla by 194.7% in the 4th 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 buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 13.7% during 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. Wellington Management Group LLP increased its position in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Robert W. Baird decreased their price target on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Stifel Nicolaus decreased their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Mizuho restated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $319.57.

Tesla Price Performance

Shares of TSLA opened at $337.80 on Friday. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s fifty day moving average is $400.17 and its 200-day moving average is $313.18. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.