TTP Investments Inc. Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

TTP Investments Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,889 shares of the electric vehicle producer’s stock after selling 751 shares during the period. Tesla comprises about 4.7% of TTP Investments Inc.’s investment portfolio, making the stock its 6th largest position. TTP Investments Inc.’s holdings in Tesla were worth $10,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after acquiring an additional 3,453,078 shares during the period. State Street Corp lifted its stake in Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock worth $27,254,286,000 after purchasing an additional 4,431,570 shares during the last quarter. Morgan Stanley lifted its stake in Tesla by 7.8% in 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 buying an additional 2,177,397 shares during the last quarter. 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 valued at $7,266,572,000 after buying an additional 269,182 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth $3,459,540,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday. Citigroup reduced their price target on Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 27th. Piper Sandler dropped their price objective on Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 5th. Jefferies Financial Group lowered their price objective on Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, January 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $218.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.89.

Tesla Stock Performance

TSLA traded down $8.59 during trading on Tuesday, hitting $166.63. The company’s stock had a trading volume of 116,441,580 shares, compared to its average volume of 102,568,922. The firm has a market cap of $530.68 billion, a PE ratio of 38.66, a P/E/G ratio of 3.97 and a beta of 2.40. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The business’s 50 day simple moving average is $185.65 and its 200-day simple moving average is $219.67. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, 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 is available through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing 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 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 completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock valued at $36,952,434 in the last ninety days. Insiders own 20.90% of the company’s stock.

Tesla Company 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.