Cozad Asset Management Inc. Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cozad Asset Management Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 4,611 shares of the electric vehicle producer’s stock after selling 58 shares during the period. Cozad Asset Management Inc.’s holdings in Tesla were worth $1,862,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. 1ST Source Bank raised its holdings in Tesla by 5.6% in the fourth quarter. 1ST Source Bank now owns 1,042 shares of the electric vehicle producer’s stock valued at $421,000 after acquiring an additional 55 shares in the last quarter. Cassady Schiller Wealth Management LLC raised its holdings in Tesla by 31.9% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 794 shares of the electric vehicle producer’s stock valued at $321,000 after acquiring an additional 192 shares in the last quarter. Pitti Group Wealth Management LLC raised its holdings in Tesla by 2.2% in the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock valued at $594,000 after acquiring an additional 31 shares in the last quarter. Parallel Advisors LLC raised its holdings in Tesla by 12.9% in the fourth quarter. Parallel Advisors LLC now owns 65,290 shares of the electric vehicle producer’s stock valued at $26,367,000 after acquiring an additional 7,439 shares in the last quarter. Finally, SouthState Corp raised its holdings in shares of Tesla by 4.3% during the fourth quarter. SouthState Corp now owns 3,118 shares of the electric vehicle producer’s stock worth $1,259,000 after purchasing an additional 129 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $238.01 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $347.85 and a 200-day moving average of $320.53. The firm has a market cap of $765.56 billion, a price-to-earnings ratio of 116.67, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted 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%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Guggenheim dropped their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $323.00.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. 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 the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

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.