Beacon Capital Management LLC Sells 880 Shares of Tesla, Inc. (NASDAQ:TSLA)

Beacon Capital Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,836 shares of the electric vehicle producer’s stock after selling 880 shares during the quarter. Tesla comprises about 0.5% of Beacon Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Beacon Capital Management LLC’s holdings in Tesla were worth $3,972,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Swedbank AB grew its stake in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares in the last quarter. Eastern Bank grew its stake in Tesla by 65.2% during the third quarter. Eastern Bank now owns 7,655 shares of the electric vehicle producer’s stock worth $2,003,000 after buying an additional 3,020 shares in the last quarter. Leo Wealth LLC grew its stake in Tesla by 5.7% during the third quarter. Leo Wealth LLC now owns 4,691 shares of the electric vehicle producer’s stock worth $1,227,000 after buying an additional 251 shares in the last quarter. Waldron Private Wealth LLC grew its stake in Tesla by 7.6% during the third quarter. Waldron Private Wealth LLC now owns 16,380 shares of the electric vehicle producer’s stock worth $4,286,000 after buying an additional 1,152 shares in the last quarter. Finally, RBA Wealth Management LLC grew its stake in Tesla by 3.3% during the third quarter. RBA Wealth Management LLC now owns 3,271 shares of the electric vehicle producer’s stock worth $856,000 after buying an additional 103 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $360.56 on Thursday. The company has a fifty day moving average of $403.41 and a 200-day moving average of $311.13. The firm has a market capitalization of $1.16 trillion, a P/E ratio of 176.75, a P/E/G ratio of 5.89 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Stifel Nicolaus reduced their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Wednesday, February 12th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $326.50.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on 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 directly owns 85,000 shares in the company, valued at $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 90 days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by company 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.