Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sand Hill Global Advisors LLC

Sand Hill Global Advisors LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,018 shares of the electric vehicle producer’s stock after selling 1,412 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Tesla were worth $8,084,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Horrell Capital Management Inc. increased its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Tesla in the 4th quarter worth about $38,000. Delos Wealth Advisors LLC boosted its holdings in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. HSBC lowered their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $425.00 price target on shares of Tesla in a research report on Thursday, April 3rd. Benchmark assumed coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $305.31.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,228 shares of company stock valued at $122,791,123. 20.70% of the stock is owned by insiders.

Tesla Stock Down 2.6 %

Tesla stock opened at $233.29 on Tuesday. The company’s 50 day simple moving average is $302.70 and its 200 day simple moving average is $324.17. The firm has a market capitalization of $750.38 billion, a price-to-earnings ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. 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 issued 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 net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.