Steigerwald Gordon & Koch Inc. Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Steigerwald Gordon & Koch Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,337 shares of the electric vehicle producer’s stock after selling 232 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in Tesla were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Tesla by 1.8% in 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 purchasing an additional 1,022,589 shares during the period. FMR LLC lifted its stake in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tesla by 13.7% in 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 valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Royal Bank of Canada lifted their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $299.33.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Tuesday. The company has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The firm has a fifty day simple moving average of $389.94 and a 200-day simple moving average of $288.78. The company has a current ratio of 1.84, a quick ratio of 1.37 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 announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by company 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.