Financial Counselors Inc. Has $71.10 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Financial Counselors Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,068 shares of the electric vehicle producer’s stock after selling 6,384 shares during the period. Tesla accounts for about 1.0% of Financial Counselors Inc.’s portfolio, making the stock its 18th biggest holding. Financial Counselors Inc.’s holdings in Tesla were worth $71,103,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Principal Financial Group Inc. raised its position in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. United Bank bought a new position in Tesla in the 3rd quarter valued at about $287,000. Massachusetts Financial Services Co. MA lifted its position in Tesla by 61.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock worth $30,151,000 after acquiring an additional 43,950 shares during the last quarter. Algert Global LLC bought a new stake in shares of Tesla during the third quarter worth approximately $3,194,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of Tesla in the third quarter valued at approximately $207,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock opened at $287.95 on Wednesday. The business has a 50 day moving average of $330.52 and a 200-day moving average of $322.04. 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 1 year low of $138.80 and a 1 year high of $488.54. The company has a market capitalization of $926.20 billion, a P/E ratio of 141.15, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial boosted their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird lowered their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Guggenheim cut their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $318.93.

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.