Tesla, Inc. (NASDAQ:TSLA) is ARK Investment Management LLC’s Largest Position

ARK Investment Management LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,287,352 shares of the electric vehicle producer’s stock after selling 1,301,429 shares during the period. Tesla makes up 11.1% of ARK Investment Management LLC’s holdings, making the stock its biggest holding. ARK Investment Management LLC’s holdings in Tesla were worth $1,327,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla during the fourth quarter worth about $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of 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 during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 3.0 %

NASDAQ TSLA opened at $281.95 on Friday. The firm’s fifty day moving average price is $387.91 and its 200 day moving average price is $315.28. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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 company has a market capitalization of $906.90 billion, a price-to-earnings ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % 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 quarter. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. UBS Group raised their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Robert W. Baird decreased their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Benchmark began coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $319.57.

Tesla Company 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.