Citizens Financial Group Inc. RI Sells 29,198 Shares of Tesla, Inc. (NASDAQ:TSLA)

Citizens Financial Group Inc. RI trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 70.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,051 shares of the electric vehicle producer’s stock after selling 29,198 shares during the period. Citizens Financial Group Inc. RI’s holdings in Tesla were worth $2,994,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. 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 worth $56,534,710,000 after acquiring an additional 3,453,078 shares in the last quarter. Morgan Stanley grew its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. FMR LLC grew its stake in Tesla by 0.9% in the 3rd 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 in the last quarter. Northern Trust Corp grew its stake in Tesla by 3.4% in the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Tesla by 3.5% in the 3rd 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction 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 sale, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on TSLA shares. TD Cowen dropped their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Truist Financial dropped their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Finally, Mizuho dropped their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $186.70.

Tesla Stock Performance

Shares of Tesla stock traded down $1.89 during trading on Friday, hitting $168.29. 109,309,500 shares of the company’s stock were exchanged, compared to its average volume of 100,050,800. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The business has a 50-day simple moving average of $175.04 and a 200-day simple moving average of $208.00. 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 $536.71 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.50 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

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.