Anchor Investment Management LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Anchor Investment Management LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,396 shares of the electric vehicle producer’s stock after selling 1,512 shares during the period. Anchor Investment Management LLC’s holdings in Tesla were worth $3,391,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Horrell Capital Management Inc. grew its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $38,000. Delos Wealth Advisors LLC increased its position in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new position in Tesla in the 4th quarter worth approximately $44,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $252.35 on Tuesday. The stock has a 50-day moving average price of $282.67 and a 200 day moving average price of $323.51. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $811.69 billion, a P/E ratio of 123.70, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the company’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 transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock worth $123,791,123 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Glj Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Finally, Wedbush decreased their target price on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $298.59.

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.