Resonant Capital Advisors LLC Sells 211 Shares of Tesla, Inc. (NASDAQ:TSLA)

Resonant Capital Advisors LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,604 shares of the electric vehicle producer’s stock after selling 211 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Tesla were worth $647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Alpha Paradigm Partners LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $27,000. MayTech Global Investments LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $30,000. Finally, Mendota Financial Group LLC increased its stake in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.9 %

Shares of NASDAQ:TSLA opened at $147.05 on Friday. The stock has a market capitalization of $468.32 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 3.96 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock’s 50-day simple moving average is $178.51 and its two-hundred day simple moving average is $211.48. Tesla, Inc. has a 52-week low of $146.22 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 earnings per share. Analysts expect that Tesla, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Tesla 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 value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. Insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. The Goldman Sachs Group reduced their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. TD Cowen reduced their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Jefferies Financial Group reduced their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $194.70.

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.