Evercore Wealth Management LLC Sells 10,187 Shares of Tesla, Inc. (NASDAQ:TSLA)

Evercore Wealth Management LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 28.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,680 shares of the electric vehicle producer’s stock after selling 10,187 shares during the period. Evercore Wealth Management LLC’s holdings in Tesla were worth $10,371,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Syon Capital LLC increased its stake in shares of Tesla by 123.8% during the 4th quarter. Syon Capital LLC now owns 12,331 shares of the electric vehicle producer’s stock worth $4,980,000 after purchasing an additional 6,821 shares during the last quarter. Beck Capital Management LLC bought a new position in Tesla during the fourth quarter valued at $291,000. CSM Advisors LLC purchased a new stake in Tesla in the fourth quarter worth $322,000. Totem Point Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at $3,074,000. Finally, Pinebridge Investments L.P. lifted its position in shares of Tesla by 4.1% during the 4th quarter. Pinebridge Investments L.P. now owns 388,796 shares of the electric vehicle producer’s stock valued at $157,011,000 after buying an additional 15,196 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock valued at $123,791,123 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $237.97 on Wednesday. The stock has a market cap of $765.43 billion, a price-to-earnings ratio of 116.65, a P/E/G ratio of 5.86 and a beta of 2.58. The stock’s 50-day moving average is $269.39 and its 200 day moving average is $322.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $141.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TSLA shares. Stifel Nicolaus decreased their price objective on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a report on Monday, March 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $425.00 target price on shares of Tesla in a research note on Thursday, April 3rd. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research note on Tuesday. Benchmark reduced their price objective 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, Raymond James downgraded Tesla to an “outperform” rating in a research report on Tuesday. Ten research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $290.66.

Tesla Company 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.