Cumberland Partners Ltd Sells 35 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cumberland Partners Ltd decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 874 shares of the electric vehicle producer’s stock after selling 35 shares during the quarter. Cumberland Partners Ltd’s holdings in Tesla were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ieq Capital LLC lifted its stake in shares of Tesla by 11.7% in the 4th quarter. Ieq Capital LLC now owns 240,185 shares of the electric vehicle producer’s stock valued at $96,996,000 after acquiring an additional 25,117 shares during the last quarter. Sterling Financial Planning Inc. acquired a new position in Tesla in the 4th quarter worth about $252,000. Bryn Mawr Capital Management LLC raised its position in Tesla by 369.4% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 51,554 shares of the electric vehicle producer’s stock valued at $20,820,000 after purchasing an additional 40,572 shares during the last quarter. Fagan Associates Inc. boosted its stake in shares of Tesla by 1.1% during the fourth quarter. Fagan Associates Inc. now owns 9,958 shares of the electric vehicle producer’s stock valued at $4,021,000 after purchasing an additional 111 shares in the last quarter. Finally, Good Life Advisors LLC grew its holdings in shares of Tesla by 9.9% during the fourth quarter. Good Life Advisors LLC now owns 18,943 shares of the electric vehicle producer’s stock worth $7,650,000 after purchasing an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 4.7 %

Shares of NASDAQ TSLA opened at $337.80 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. The company has a 50-day moving average price of $400.17 and a 200-day moving average price of $313.18. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly 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 research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % 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 Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. 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 90 days. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Tuesday. Wells Fargo & Company increased their price objective on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 30th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $319.57.

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.