Tesla, Inc. (NASDAQ:TSLA) Holdings Decreased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 44,041 shares of the electric vehicle producer’s stock after selling 6,296 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Tesla were worth $10,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wyrmwood Management LLC bought a new stake in Tesla in the fourth quarter worth about $25,000. Lam Group Inc. bought a new stake in Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC raised its position in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. raised its position in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. acquired a new position in Tesla in the 3rd quarter worth approximately $53,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Canaccord Genuity Group decreased their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Mizuho lowered their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Finally, Jefferies Financial Group lowered their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $185.90.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last three months. 25.10% of the stock is owned by insiders.

Tesla Price Performance

Shares of TSLA traded up $3.57 during mid-day trading on Monday, hitting $184.76. 84,172,375 shares of the company traded hands, compared to its average volume of 104,452,320. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $173.56 and a 200 day moving average of $204.56. The stock has a market capitalization of $589.24 billion, a price-to-earnings ratio of 47.13, a PEG ratio of 4.74 and a beta of 2.41.

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.