Novare Capital Management LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Novare Capital Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,409 shares of the electric vehicle producer’s stock after selling 467 shares during the quarter. Novare Capital Management LLC’s holdings in Tesla were worth $973,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 2.3 %

Shares of Tesla stock opened at $389.10 on Thursday. The company’s fifty day simple moving average is $401.04 and its two-hundred day simple moving average is $296.63. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.25 trillion, a P/E ratio of 106.60, a PEG ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. Research analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research report on Thursday, October 24th. Morgan Stanley raised their price target on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $313.84.

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.