Stokes Family Office LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Stokes Family Office LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,637 shares of the electric vehicle producer’s stock after selling 2,117 shares during the quarter. Stokes Family Office LLC’s holdings in Tesla were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. Morgan Stanley boosted its stake in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC lifted its stake in Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the period. Northern Trust Corp lifted its stake in Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Tesla by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock worth $3,677,502,000 after acquiring an additional 496,299 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TSLA shares. Barclays dropped their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Evercore ISI dropped their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Finally, Canaccord Genuity Group decreased their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.90.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by insiders.

Tesla Stock Up 0.7 %

Tesla stock traded up $1.18 during midday trading on Friday, reaching $181.19. The company’s stock had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The stock’s 50-day simple moving average is $174.07 and its 200-day simple moving average is $205.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The stock has a market capitalization of $577.85 billion, a P/E ratio of 46.22, a PEG ratio of 4.71 and a beta of 2.41.

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.