Lewis Asset Management LLC Sells 632 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lewis Asset Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 19.3% in the 4th quarter, Holdings Channel reports. The fund owned 2,648 shares of the electric vehicle producer’s stock after selling 632 shares during the quarter. Tesla accounts for 0.8% of Lewis Asset Management LLC’s holdings, making the stock its 25th biggest holding. Lewis Asset Management LLC’s holdings in Tesla were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. World Investment Advisors LLC grew its stake in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management grew its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $31,548,461.84. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,386 shares of company stock worth $196,305,796. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and increased their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. UBS Group increased their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research note on Thursday. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, thirteen 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 currently has an average rating of “Hold” and an average target price of $318.31.

Tesla Trading Up 1.1 %

Shares of Tesla stock opened at $404.60 on Monday. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30. The business has a 50-day moving average price of $404.22 and a 200-day moving average price of $299.34. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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 10.54%. Equities research analysts anticipate that Tesla, Inc. will post 2.82 EPS 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.