Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,644 shares of the electric vehicle producer’s stock after selling 1,068 shares during the quarter. Lyell Wealth Management LP’s holdings in Tesla were worth $1,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Tesla in the 4th quarter valued at $46,000. PayPay Securities Corp increased its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the 3rd quarter worth $35,000. Finally, Finley Financial LLC acquired a new position in shares of Tesla during the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their price objective on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $326.50.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 4.7 %

Shares of Tesla stock opened at $337.80 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. The company has a 50 day moving average of $400.17 and a 200 day moving average of $312.40.

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

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.