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

Evercore Wealth Management LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,680 shares of the electric vehicle producer's stock after selling 10,187 shares during the quarter. Evercore Wealth Management LLC's holdings in Tesla were worth $10,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock worth $123,791,123 over the last three months. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Bank of America reduced their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Mizuho dropped their target price on shares of Tesla from $375.00 to $325.00 and set an "outperform" rating on the stock in a research report on Wednesday. New Street Research upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Finally, Canaccord Genuity Group lowered their price objective on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $287.46.

Tesla Stock Performance

NASDAQ:TSLA traded up $25.44 during midday trading on Friday, reaching $284.95. The stock had a trading volume of 166,882,151 shares, compared to its average volume of 96,015,992. The stock has a market capitalization of $916.55 billion, a P/E ratio of 139.68, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $166.37 and a 1-year 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. The firm's fifty day simple moving average is $263.98 and its 200-day simple moving average is $322.46.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.