Anchor Investment Management LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Anchor Investment Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,396 shares of the electric vehicle producer’s stock after selling 1,512 shares during the quarter. Anchor Investment Management LLC’s holdings in Tesla were worth $3,391,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings 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 worth $955,052,000 after buying an additional 194,796 shares during the period. M&T Bank Corp increased its stake in Tesla by 13.3% in the third quarter. M&T Bank Corp now owns 341,442 shares of the electric vehicle producer’s stock worth $89,332,000 after purchasing an additional 39,961 shares during the period. McIlrath & Eck LLC lifted its position in shares of Tesla by 6.0% during the third quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock worth $890,000 after purchasing an additional 192 shares during the last quarter. Advisory Resource Group boosted its stake in shares of Tesla by 1.2% during the third quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock valued at $1,115,000 after purchasing an additional 50 shares during the period. Finally, Morse Asset Management Inc grew its holdings in shares of Tesla by 46.0% in the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock worth $2,279,000 after purchasing an additional 2,743 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $252.35 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s fifty day moving average price is $282.67 and its 200 day moving average price is $323.51. The company has a market capitalization of $811.69 billion, a PE ratio of 123.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last issued 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 net margin of 7.26% and a return on equity of 10.31%. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Benchmark dropped their price target on Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America decreased their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $298.59.

Insider Buying and Selling

In other news, 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 transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by corporate 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.