Lee Danner & Bass Inc. Sells 450 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lee Danner & Bass Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,031 shares of the electric vehicle producer’s stock after selling 450 shares during the period. Lee Danner & Bass Inc.’s holdings in Tesla were worth $820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Swedbank AB raised its stake in shares of Tesla by 2.8% during 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 last quarter. Principal Financial Group Inc. raised its stake in shares of Tesla by 5.6% during 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 last quarter. United Bank bought a new position in shares of Tesla during the third quarter valued at about $287,000. Advisors Asset Management Inc. raised its stake in shares of Tesla by 0.9% during the third quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock valued at $2,347,000 after acquiring an additional 80 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in shares of Tesla by 4.0% during the third quarter. Citizens Financial Group Inc. RI now owns 26,577 shares of the electric vehicle producer’s stock valued at $6,953,000 after acquiring an additional 1,034 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 5.3 %

Shares of TSLA stock opened at $248.71 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $335.19 and its 200 day moving average is $319.68. The stock has a market capitalization of $799.98 billion, a P/E ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLA. Guggenheim decreased their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Glj Research reissued a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler decreased their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $318.93.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

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.