Rockbridge Investment Management LCC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Rockbridge Investment Management LCC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,698 shares of the electric vehicle producer’s stock after selling 91 shares during the period. Rockbridge Investment Management LCC’s holdings in Tesla were worth $1,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Howe & Rusling Inc. boosted its stake in shares of Tesla by 7.6% during the fourth quarter. Howe & Rusling Inc. now owns 863 shares of the electric vehicle producer’s stock valued at $349,000 after purchasing an additional 61 shares during the period. AssuredPartners Investment Advisors LLC bought a new stake in Tesla during the 4th quarter valued at $9,607,000. NEOS Investment Management LLC boosted its position in Tesla by 12.7% during the 4th quarter. NEOS Investment Management LLC now owns 246,926 shares of the electric vehicle producer’s stock valued at $99,719,000 after buying an additional 27,780 shares during the period. BIT Capital GmbH grew its holdings in Tesla by 113.7% in the 4th quarter. BIT Capital GmbH now owns 451 shares of the electric vehicle producer’s stock worth $182,000 after acquiring an additional 240 shares during the last quarter. Finally, Moment Partners LLC purchased a new position in shares of Tesla in the fourth quarter valued at about $273,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $272.06 on Thursday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The business’s fifty day simple moving average is $327.40 and its two-hundred day simple moving average is $321.69. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $875.09 billion, a price-to-earnings ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $318.93.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla 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.