Tesla, Inc. (NASDAQ:TSLA) Stock Position Lessened by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,060 shares of the electric vehicle producer’s stock after selling 7,728 shares during the quarter. Tesla makes up approximately 2.3% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 6th biggest position. Elo Mutual Pension Insurance Co’s holdings in Tesla were worth $107,042,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% in 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 buying an additional 8,637,195 shares during the period. Proficio Capital Partners LLC raised its holdings in Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tesla by 13.7% in the 3rd 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 purchasing an additional 2,946,763 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TSLA shares. Piper Sandler lowered their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Evercore ISI increased their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Robert W. Baird decreased their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $318.93.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % 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 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Down 5.6 %

TSLA opened at $272.06 on Thursday. The business has a 50 day simple moving average of $327.40 and a 200-day simple moving average of $321.69. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $875.09 billion, a P/E ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50. 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 (NASDAQ:TSLA) last issued 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.