Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 23.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,216 shares of the electric vehicle producer’s stock after selling 4,254 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Tesla were worth $5,741,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TSLA. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during 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 during the period. GS Investments Inc. grew its position 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 acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Tesla in the 4th quarter valued at about $38,000. Delos Wealth Advisors LLC boosted its stake in Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new position in Tesla in the 4th quarter worth about $44,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial lowered their target price on Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. The Goldman Sachs Group lowered their price target on Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Benchmark reduced their price target on shares of Tesla from $475.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Glj Research reissued a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $290.66.

Tesla Trading Down 5.7 %

Shares of TSLA stock opened at $227.50 on Tuesday. The business’s 50 day moving average is $271.75 and its two-hundred day moving average is $323.14. 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 12 month low of $138.80 and a 12 month high of $488.54. The company has a market cap of $731.76 billion, a PE ratio of 111.52, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,228 shares of company stock worth $123,791,123. Company insiders own 20.70% of the company’s stock.

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.