Wright Investors Service Inc. Has $3.52 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Wright Investors Service Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,173 shares of the electric vehicle producer’s stock after selling 1,497 shares during the period. Wright Investors Service Inc.’s holdings in Tesla were worth $3,522,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Axiom Financial Strategies LLC raised its holdings in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after buying an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after buying an additional 164,789 shares during the last quarter. MAS Advisors LLC raised its holdings in Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 81 shares during the last quarter. Ergoteles LLC raised its holdings in Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after buying an additional 4,593 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Mizuho reiterated a “neutral” rating and issued a $195.00 target price (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Barclays reduced their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley reduced their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $194.70.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 over the last ninety days. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

TSLA traded down $4.70 on Thursday, reaching $150.75. The company had a trading volume of 47,493,894 shares, compared to its average volume of 101,156,547. The business has a 50 day simple moving average of $180.24 and a 200 day simple moving average of $212.64. The company has a market cap of $480.11 billion, a price-to-earnings ratio of 35.25, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 52-week low of $148.70 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.97 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.