Ashburton Jersey Ltd Trims Holdings in Tesla Inc (TSLA)
Ashburton Jersey Ltd cut its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 55.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 265 shares of the electric vehicle producer’s stock after selling 325 shares during the quarter. Ashburton Jersey Ltd’s holdings in Tesla were worth $88,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Vista Capital Partners Inc. acquired a new stake in Tesla during the 4th quarter worth approximately $241,000. Strategic Wealth Management Group LLC acquired a new stake in shares of Tesla in the 4th quarter valued at $224,000. Daiwa SB Investments Ltd. raised its holdings in shares of Tesla by 7.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 19,207 shares of the electric vehicle producer’s stock valued at $6,392,000 after purchasing an additional 1,250 shares in the last quarter. Berkshire Capital Holdings Inc. raised its holdings in shares of Tesla by 371,900.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 18,600 shares of the electric vehicle producer’s stock valued at $6,190,000 after purchasing an additional 18,595 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Tesla by 15.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,190 shares of the electric vehicle producer’s stock valued at $5,055,000 after purchasing an additional 1,990 shares in the last quarter. Institutional investors own 59.50% of the company’s stock.
In other Tesla news, Director Linda Johnson Rice sold 1,700 shares of the firm’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $321.60, for a total transaction of $546,720.00. Following the transaction, the director now directly owns 1,700 shares of the company’s stock, valued at approximately $546,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $306.10, for a total transaction of $306,100.00. Following the transaction, the insider now directly owns 8,860 shares in the company, valued at $2,712,046. The disclosure for this sale can be found here. Insiders have sold a total of 100,740 shares of company stock worth $30,641,888 over the last three months. 22.80% of the stock is currently owned by insiders.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.93. Tesla had a negative net margin of 4.55% and a negative return on equity of 18.50%. The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period last year, the firm posted ($3.04) EPS. Tesla’s revenue for the quarter was up 119.8% on a year-over-year basis. On average, research analysts forecast that Tesla Inc will post 1.64 EPS for the current year.
A number of brokerages have recently weighed in on TSLA. ValuEngine upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Friday. BidaskClub lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Cowen reduced their price objective on shares of Tesla from $200.00 to $180.00 and set an “underperform” rating on the stock in a report on Friday, March 22nd. Sanford C. Bernstein restated a “neutral” rating and issued a $325.00 price objective on shares of Tesla in a report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, December 31st. Fourteen equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company’s stock. Tesla presently has an average rating of “Hold” and a consensus price target of $327.03.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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