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TCP Asset Management LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 674 shares of the electric vehicle producer’s stock after selling 183 shares during the quarter. TCP Asset Management LLC’s holdings in Tesla were worth $272,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. King Luther Capital Management Corp boosted its holdings in Tesla by 2.8% in the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after purchasing an additional 173 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Tesla by 62.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock valued at $4,015,000 after acquiring an additional 7,804 shares during the last quarter. Edge Capital Group LLC acquired a new stake in Tesla during the second quarter worth $522,000. Cyrus J. Lawrence LLC purchased a new stake in Tesla in the second quarter valued at $82,000. Finally, Commonwealth Financial Services LLC lifted its stake in shares of Tesla by 11.2% in the 2nd quarter. Commonwealth Financial Services LLC now owns 945 shares of the electric vehicle producer’s stock valued at $187,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Insider Activity
In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by company insiders.
Tesla Price Performance
Shares of NASDAQ:TSLA opened at $426.50 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company’s fifty day moving average price is $389.94 and its 200 day moving average price is $288.78.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. Finally, Truist Financial restated a “hold” rating and set a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $299.33.
View Our Latest Research Report on Tesla
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.
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