Howland Capital Management LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Howland Capital Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,913 shares of the electric vehicle producer’s stock after selling 185 shares during the quarter. Howland Capital Management LLC’s holdings in Tesla were worth $773,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Hengehold Capital Management LLC raised its position in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI raised its position in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares during the period. Acropolis Investment Management LLC raised its position in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its position in shares of Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the period. Finally, Prospect Financial Services LLC raised its position in shares of Tesla by 0.3% in the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after acquiring an additional 26 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA opened at $336.51 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm’s fifty day simple moving average is $407.68 and its 200-day simple moving average is $306.23. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. 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 (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts forecast that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wedbush upped their price target on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Truist Financial upped their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $326.50.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the 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 transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.