Mark Sheptoff Financial Planning LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Mark Sheptoff Financial Planning LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,523 shares of the electric vehicle producer’s stock after selling 71 shares during the period. Tesla makes up approximately 2.3% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 13th largest holding. Mark Sheptoff Financial Planning LLC’s holdings in Tesla were worth $4,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Morey & Quinn Wealth Partners LLC purchased a new stake in Tesla during the fourth quarter worth about $1,232,000. Murphy & Mullick Capital Management Corp purchased a new position in Tesla during the fourth quarter worth about $3,958,000. BG Investment Services Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at $775,000. Wambolt & Associates LLC increased its position in Tesla by 6.6% during the 4th quarter. Wambolt & Associates LLC now owns 2,772 shares of the electric vehicle producer’s stock worth $1,119,000 after purchasing an additional 172 shares in the last quarter. Finally, Momentous Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter valued at $258,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.4 %

Tesla stock opened at $287.95 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $926.20 billion, a PE ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50. The business’s 50-day simple moving average is $330.52 and its 200-day simple moving average is $322.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America lowered their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim decreased their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. Stifel Nicolaus lowered their price objective 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. Royal Bank of Canada lowered their price objective on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, Robert W. Baird cut their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $318.93.

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.