Tesla, Inc. (NASDAQ:TSLA) is ARK Investment Management LLC’s 3rd Largest Position

ARK Investment Management LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,802,519 shares of the electric vehicle producer’s stock after selling 276,132 shares during the period. Tesla comprises 5.6% of ARK Investment Management LLC’s investment portfolio, making the stock its 3rd biggest position. ARK Investment Management LLC’s holdings in Tesla were worth $944,850,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. San Luis Wealth Advisors LLC boosted its holdings in shares of Tesla by 8.7% during the fourth quarter. San Luis Wealth Advisors LLC now owns 23,038 shares of the electric vehicle producer’s stock worth $5,724,000 after purchasing an additional 1,845 shares during the last quarter. Canvas Wealth Advisors LLC boosted its holdings in shares of Tesla by 39.7% during the fourth quarter. Canvas Wealth Advisors LLC now owns 13,145 shares of the electric vehicle producer’s stock worth $3,266,000 after purchasing an additional 3,735 shares during the last quarter. Waterway Wealth Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $208,000. jvl associates llc boosted its holdings in Tesla by 21.3% in the fourth quarter. jvl associates llc now owns 1,038 shares of the electric vehicle producer’s stock valued at $258,000 after acquiring an additional 182 shares during the last quarter. Finally, Trust Co of the South acquired a new position in Tesla in the fourth quarter valued at $895,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TSLA shares. Redburn Atlantic started coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. UBS Group cut their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Barclays cut their price objective on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 25th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research report on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $207.04.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $179.83 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $188.49 and a 200-day simple moving average of $222.36. The company has a market cap of $572.72 billion, a PE ratio of 41.72, a P/E/G ratio of 4.01 and a beta of 2.41. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29.

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

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold a total of 198,598 shares of company stock valued at $36,952,434 over the last quarter. Corporate insiders own 20.90% of the company’s stock.

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.