InTrack Investment Management Inc Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

InTrack Investment Management Inc cut its position in Tesla, Inc. (NASDAQ:TSLA) by 64.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,451 shares of the electric vehicle producer’s stock after selling 2,650 shares during the quarter. InTrack Investment Management Inc’s holdings in Tesla were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in TSLA. World Investment Advisors LLC grew its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management boosted its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC increased its position in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA stock opened at $426.50 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The stock’s 50 day simple moving average is $389.94 and its 200 day simple moving average is $288.49.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Stifel Nicolaus lifted their price target on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research report on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $299.33.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock valued at $213,451,751 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

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.