Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,352 shares of the electric vehicle producer's stock after selling 12,579 shares during the quarter. Tesla comprises about 4.6% of Gerber Kawasaki Wealth & Investment Management's portfolio, making the stock its 4th biggest position. Gerber Kawasaki Wealth & Investment Management's holdings in Tesla were worth $105,949,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TSLA. Vanguard Group Inc. lifted its stake in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after acquiring an additional 780,026 shares during the period. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on 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. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. Insiders own 20.70% of the company's stock.

Tesla Trading Up 9.8 %

Shares of TSLA stock opened at $284.95 on Friday. The stock's 50 day simple moving average is $263.98 and its two-hundred day simple moving average is $322.46. Tesla, Inc. has a 1 year low of $166.37 and a 1 year high of $488.54. The company has a market cap of $916.55 billion, a PE ratio of 139.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results 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). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm earned $0.45 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Cantor Fitzgerald dropped their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Truist Financial set a $280.00 price objective on shares of Tesla in a research report on Tuesday. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday. Finally, Benchmark reiterated a "buy" rating and set a $350.00 price objective on shares of Tesla in a research report on Wednesday. Ten equities 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $287.46.

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.

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