Longitude Cayman Ltd. Sells 19,860 Shares of Tesla, Inc. (NASDAQ:TSLA)

Longitude Cayman Ltd. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,200 shares of the electric vehicle producer’s stock after selling 19,860 shares during the period. Tesla accounts for 2.1% of Longitude Cayman Ltd.’s portfolio, making the stock its 13th largest position. Longitude Cayman Ltd.’s holdings in Tesla were worth $10,177,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares in the last quarter. Finley Financial LLC purchased a new stake in Tesla during the 4th quarter valued at $64,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 136.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after purchasing an additional 176 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Tesla Stock Performance

NASDAQ TSLA opened at $355.84 on Friday. 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 business has a 50 day simple moving average of $406.98 and a two-hundred day simple moving average of $306.79. The stock has a market capitalization of $1.14 trillion, a PE ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. Mizuho reaffirmed an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research note on Thursday, January 30th. The Goldman Sachs Group increased their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Barclays increased their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $326.50.

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.