Sand Hill Global Advisors LLC Sells 1,412 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sand Hill Global Advisors LLC lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,018 shares of the electric vehicle producer's stock after selling 1,412 shares during the period. Sand Hill Global Advisors LLC's holdings in Tesla were worth $8,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Peachtree Investment Partners LLC purchased a new position in shares of Tesla in the fourth quarter worth about $299,000. FIL Ltd boosted its holdings in Tesla by 29.1% in the 4th quarter. FIL Ltd now owns 296,693 shares of the electric vehicle producer's stock worth $119,817,000 after buying an additional 66,949 shares during the period. Canopy Partners LLC raised its holdings in Tesla by 3.8% during the 4th quarter. Canopy Partners LLC now owns 3,807 shares of the electric vehicle producer's stock valued at $1,537,000 after acquiring an additional 141 shares during the period. U S Wealth Group LLC. purchased a new stake in shares of Tesla during the fourth quarter worth $231,000. Finally, Twin Capital Management Inc. boosted its holdings in shares of Tesla by 2.4% in the fourth quarter. Twin Capital Management Inc. now owns 41,489 shares of the electric vehicle producer's stock worth $16,755,000 after acquiring an additional 969 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TSLA shares. Robert W. Baird dropped their price objective on Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and increased their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. StockNews.com lowered shares of Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $298.59.

Insiders Place Their Bets

In other news, 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 transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 0.2 %

NASDAQ:TSLA traded down $0.44 during trading hours on Friday, reaching $251.96. 128,603,814 shares of the company traded hands, compared to its average volume of 95,877,966. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $810.42 billion, a P/E ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58. The business's 50-day moving average price is $285.19 and its two-hundred day moving average price is $323.09. 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 (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.