Milestone Asset Management LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Milestone Asset Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 26.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,027 shares of the electric vehicle producer’s stock after selling 362 shares during the quarter. Milestone Asset Management LLC’s holdings in Tesla were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new position in Tesla during the third quarter worth $25,000. Wyrmwood Management LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla in the third quarter worth approximately $27,000. Halpern Financial Inc. increased its stake in Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares during the period. Finally, Perkins Coie Trust Co lifted its holdings in Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein dropped their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Barclays lowered their price target on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating for the company in a research report on Thursday, January 25th. Truist Financial lowered their target price on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a report on Wednesday. HSBC cut their price target on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a report on Wednesday. Finally, Redburn Atlantic initiated coverage on Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $202.00.

Tesla Price Performance

TSLA stock traded up $1.75 during midday trading on Wednesday, reaching $168.38. The stock had a trading volume of 82,198,049 shares, compared to its average volume of 102,191,172. Tesla, Inc. has a 52-week low of $152.37 and a 52-week high of $299.29. The company has a market cap of $536.26 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 4.06 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $184.80 and its 200 day simple moving average is $218.91.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS 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 business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred 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 sale, 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 is available through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla 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 in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock worth $36,952,434 over the last three months. Company insiders own 25.10% of the company’s stock.

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.