Legato Capital Management LLC Sells 4,574 Shares of Tesla, Inc. (NASDAQ:TSLA)

Legato Capital Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,900 shares of the electric vehicle producer’s stock after selling 4,574 shares during the period. Tesla makes up approximately 0.6% of Legato Capital Management LLC’s holdings, making the stock its 19th largest holding. Legato Capital Management LLC’s holdings in Tesla were worth $4,402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finley Financial LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Tesla by 136.4% during the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after purchasing an additional 176 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $355.84 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a fifty day moving average of $406.31 and a two-hundred day moving average of $308.24. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.43, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. As a group, equities research analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Tesla in a report on Thursday, January 30th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $326.50.

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.