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

Sand Hill Global Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,018 shares of the electric vehicle producer’s stock after selling 1,412 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Tesla were worth $8,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter worth approximately $38,000. Delos Wealth Advisors LLC grew its stake in Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla in the 4th quarter worth approximately $44,000. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 370,228 shares of company stock worth $122,791,123. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 2.6 %

Shares of TSLA opened at $233.29 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 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 has a 50 day simple moving average of $302.70 and a 200-day simple moving average of $324.17. The stock has a market cap of $750.38 billion, a price-to-earnings ratio of 114.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TSLA shares. HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Piper Sandler cut their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Wedbush decreased their price objective on Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company dropped their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Finally, Barclays boosted their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Eight research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $305.31.

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.