Tesla, Inc. (NASDAQ:TSLA) Stock Position Lowered by Polar Capital Holdings Plc

Polar Capital Holdings Plc lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 445,998 shares of the electric vehicle producer’s stock after selling 39,786 shares during the quarter. Tesla accounts for approximately 1.0% of Polar Capital Holdings Plc’s investment portfolio, making the stock its 23rd largest position. Polar Capital Holdings Plc’s holdings in Tesla were worth $180,112,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the fourth quarter worth $56,600,000. Stephens Consulting LLC boosted its stake in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new stake in shares of Tesla in the fourth quarter worth $8,158,000. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after buying an additional 29,458 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $347.68 on Thursday. The company has a 50 day moving average of $262.55 and a 200 day moving average of $328.41. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market cap of $1.12 trillion, a P/E ratio of 170.43, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock valued at $115,600,501 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research reports. UBS Group dropped their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Glj Research reiterated a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Piper Sandler set a $400.00 target price on Tesla in a research note on Tuesday, May 6th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Barclays reduced their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $287.46.

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.