Hartline Investment Corp Sells 300 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hartline Investment Corp cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,111 shares of the electric vehicle producer’s stock after selling 300 shares during the period. Hartline Investment Corp’s holdings in Tesla were worth $276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV lifted its position in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. raised its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. Wells Fargo & Company dropped their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday. China Renaissance assumed coverage on shares of Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. TD Cowen reduced their price target on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Finally, Jefferies Financial Group reduced their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $186.22.

Tesla Price Performance

NASDAQ TSLA traded up $17.45 during trading hours on Wednesday, hitting $162.13. The company had a trading volume of 180,807,331 shares, compared to its average volume of 103,011,320. The firm has a 50 day simple moving average of $176.81 and a 200 day simple moving average of $209.24. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The firm has a market capitalization of $516.35 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 3.75 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. Equities research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. 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. 20.90% of the stock is currently owned by 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.