Investors Research Corp Sells 73 Shares of Tesla, Inc. (NASDAQ:TSLA)

Investors Research Corp trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561 shares of the electric vehicle producer’s stock after selling 73 shares during the quarter. Investors Research Corp’s holdings in Tesla were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB boosted its position in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank bought a new stake in shares of Tesla in the third quarter valued at about $287,000. XML Financial LLC boosted its position in shares of Tesla by 1.0% in the third quarter. XML Financial LLC now owns 6,023 shares of the electric vehicle producer’s stock valued at $1,576,000 after acquiring an additional 59 shares during the period. Finally, Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter valued at about $29,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $222.15 on Tuesday. The business’s 50 day simple moving average is $363.87 and its 200 day simple moving average is $319.46. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $714.55 billion, a PE ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 over the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Mizuho reaffirmed an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $326.31.

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.