Cypress Capital LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,570 shares of the electric vehicle producer's stock after selling 1,441 shares during the quarter. Cypress Capital LLC's holdings in Tesla were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. World Investment Advisors LLC grew its stake in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management raised its stake in Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC boosted its holdings in Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after acquiring an additional 891 shares in the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after acquiring an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after acquiring an additional 9,919 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on Tesla from $226.00 to $259.00 and gave the company a "sell" rating in a report on Thursday, January 30th. Jefferies Financial Group raised their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, February 18th. StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Truist Financial lifted their price objective on Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $319.57.
Check Out Our Latest Report on TSLA
Tesla Stock Performance
Shares of TSLA stock opened at $330.53 on Tuesday. The company has a market cap of $1.06 trillion, a P/E ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34. The firm has a fifty day moving average price of $397.52 and a 200 day moving average price of $314.96. 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 12 month low of $138.80 and a 12 month high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company's stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by corporate insiders.
About Tesla
(
Free Report)
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.
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