Rice Partnership LLC Sells 532 Shares of Tesla, Inc. (NASDAQ:TSLA)

Rice Partnership LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,079 shares of the electric vehicle producer’s stock after selling 532 shares during the quarter. Tesla accounts for about 1.5% of Rice Partnership LLC’s holdings, making the stock its 21st largest position. Rice Partnership LLC’s holdings in Tesla were worth $7,705,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TSLA. Hengehold Capital Management LLC grew its stake in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI lifted its holdings in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares in the last quarter. Acropolis Investment Management LLC lifted its holdings in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Prospect Financial Services LLC lifted its holdings in Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 664,776 shares of company stock worth $239,746,862. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $374.32 on Friday. The stock has a market cap of $1.20 trillion, a price-to-earnings ratio of 183.49, a PEG ratio of 6.79 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 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 business has a 50 day moving average of $407.11 and a 200-day moving average of $302.26.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. UBS Group lifted their target price on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $440.00 price target on shares of Tesla in a report on Thursday, January 30th. Wedbush boosted their price target on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, January 29th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $322.29.

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.