Synergy Asset Management LLC Offloads 27,751 Shares of Tesla, Inc. (NASDAQ:TSLA)

Synergy Asset Management LLC Offloads 27,751 Shares of Tesla, Inc. (NASDAQ:TSLA)


Synergy Asset Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 70.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,566 shares of the electric vehicle producer’s stock after selling 27,751 shares during the period. Synergy Asset Management LLC’s holdings in Tesla were worth $2,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. MidWestOne Financial Group Inc. boosted its stake in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after buying an additional 15 shares during the last quarter. City State Bank boosted its stake in shares of Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after buying an additional 40 shares during the last quarter. Marcum Wealth LLC boosted its stake in shares of Tesla by 0.6% in the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after buying an additional 41 shares during the last quarter. Investors Research Corp boosted its stake in shares of Tesla by 5.5% in the 2nd quarter. Investors Research Corp now owns 801 shares of the electric vehicle producer’s stock worth $210,000 after buying an additional 42 shares during the last quarter. Finally, Opal Wealth Advisors LLC boosted its stake in shares of Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after buying an additional 42 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSLA shares. Guggenheim lifted their target price on Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research report on Friday, December 15th. Mizuho reiterated a “neutral” rating and set a $195.00 target price (down from $270.00) on shares of Tesla in a research report on Monday, March 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Monday, March 25th. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $320.00 price objective on shares of Tesla in a research report on Wednesday. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $204.63.

Read Our Latest Research Report on Tesla

Tesla Stock Down 2.2 %

Shares of NASDAQ TSLA opened at $175.79 on Friday. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The stock’s fifty day simple moving average is $186.33 and its two-hundred day simple moving average is $221.06. 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 market capitalization of $559.85 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 3.97 and a beta of 2.41.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data 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 net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock worth $36,952,434 in the last ninety days. Company insiders own 25.10% of the company’s stock.

Tesla Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)



Receive News & Ratings for Tesla Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tesla and related companies with MarketBeat.com’s FREE daily email newsletter.

Source Reference

Latest stories