Venturi Wealth Management LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Venturi Wealth Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,228 shares of the electric vehicle producer’s stock after selling 2,902 shares during the period. Venturi Wealth Management LLC’s holdings in Tesla were worth $5,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tesla by 13.7% in the 3rd 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 buying an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 75,000 shares of Tesla 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 completion of the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TSLA shares. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Tesla in a report on Thursday, January 30th. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Wednesday, February 12th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $326.50.

Tesla Trading Down 4.7 %

TSLA opened at $337.80 on Friday. The firm has a market cap of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. 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 stock has a 50-day moving average of $400.17 and a 200 day moving average of $312.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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%. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.