Robocap Asset Management Ltd Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Robocap Asset Management Ltd lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,690 shares of the electric vehicle producer’s stock after selling 7,788 shares during the quarter. Tesla accounts for 1.8% of Robocap Asset Management Ltd’s portfolio, making the stock its 21st biggest holding. Robocap Asset Management Ltd’s holdings in Tesla were worth $2,702,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Tesla by 692.6% during 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. Finley Financial LLC purchased a new stake in shares of Tesla in the 4th quarter worth $64,000. Finally, Abich Financial Wealth Management LLC lifted 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 buying an additional 176 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday. Finally, Barclays upped their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $321.71.

Tesla Stock Down 6.3 %

Shares of TSLA stock opened at $328.50 on Wednesday. The stock’s 50-day simple moving average is $408.14 and its 200-day simple moving average is $305.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $1.06 trillion, a PE ratio of 161.03, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced 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 10.31%. Equities analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 635,776 shares of company stock worth $231,335,112 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.