Private Wealth Partners LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Private Wealth Partners LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,270 shares of the electric vehicle producer’s stock after selling 242 shares during the period. Private Wealth Partners LLC’s holdings in Tesla were worth $3,340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Geode Capital Management LLC boosted its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC raised its stake in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tesla by 13.7% during the third 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was 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 directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. 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 stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $337.80 on Friday. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. The firm’s 50 day simple moving average is $400.17 and its 200 day simple moving average is $313.18. 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, 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 results 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%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on TSLA. Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Wednesday, February 12th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and raised their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Ten equities 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.