Stockman Wealth Management Inc. Sells 1,543 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stockman Wealth Management Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 41.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,225 shares of the electric vehicle producer’s stock after selling 1,543 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Tesla were worth $553,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mount Vernon Associates Inc. MD increased its stake in shares of Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares in the last quarter. Oak Ridge Investments LLC increased its stake in Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after purchasing an additional 1,405 shares in the last quarter. Corient Private Wealth LLC increased its stake in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock traded down $5.00 during midday trading on Monday, reaching $142.05. The stock had a trading volume of 106,716,266 shares, compared to its average volume of 101,720,281. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The firm’s 50-day moving average price is $177.59 and its 200 day moving average price is $210.05. The firm has a market capitalization of $452.40 billion, a PE ratio of 32.96, a P/E/G ratio of 3.89 and a beta of 2.39. 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 announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target for the company. HSBC decreased their price target on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a research note on Wednesday, April 3rd. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Citigroup cut their price objective on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $298.00 price objective on shares of Tesla in a report on Wednesday, March 27th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $194.70.

About Tesla

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.