Jacobs & Co. CA Has $2.83 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Jacobs & Co. CA trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,371 shares of the electric vehicle producer’s stock after selling 354 shares during the quarter. Jacobs & Co. CA’s holdings in Tesla were worth $2,825,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Contravisory Investment Management Inc. bought a new stake in Tesla during the third quarter valued at about $25,000. Wyrmwood Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Alpha Paradigm Partners LLC bought a new stake in shares of Tesla in the third quarter valued at about $27,000. Halpern Financial Inc. lifted its stake in shares of Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares during the period. Finally, Perkins Coie Trust Co lifted its stake in shares of Tesla by 72.0% in the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Wells Fargo & Company cut shares of Tesla from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $200.00 to $125.00 in a research note on Wednesday, March 13th. Wedbush cut their price target on shares of Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial cut their price target on shares of Tesla from $227.00 to $193.00 and set a “hold” rating for the company in a research note on Thursday, January 25th. Jefferies Financial Group cut their price target on shares of Tesla from $225.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, January 29th. Finally, China Renaissance started coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $206.48.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $179.83 on Thursday. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The firm has a fifty day simple moving average of $188.49 and a 200 day simple moving average of $222.36. The company has a market capitalization of $572.72 billion, a PE ratio of 41.72, a P/E/G ratio of 4.01 and a beta of 2.41. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period last year, the firm posted $1.07 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 2.44 EPS for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 198,598 shares of company stock worth $36,952,434 over the last three months. 20.90% of the stock is currently owned by 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.