Stevens Capital Management LP Sells 119,095 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stevens Capital Management LP trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 96.9% during the 4th quarter, HoldingsChannel reports. The fund owned 3,758 shares of the electric vehicle producer’s stock after selling 119,095 shares during the quarter. Stevens Capital Management LP’s holdings in Tesla were worth $1,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GS Investments Inc. increased its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Cyrus J. Lawrence LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $44,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla during the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $47,000. Finally, PayPay Securities Corp boosted its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $248.71 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a fifty day simple moving average of $335.19 and a 200 day simple moving average of $320.44. The stock has a market cap of $799.98 billion, a P/E ratio of 121.92, 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 analysts’ consensus estimates 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 expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday. Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Truist Financial boosted their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $318.93.

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.