Tesla, Inc. (NASDAQ:TSLA) Shares Sold by LGT Group Foundation

LGT Group Foundation lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,310 shares of the electric vehicle producer’s stock after selling 3,810 shares during the period. Tesla accounts for 1.0% of LGT Group Foundation’s investment portfolio, making the stock its 22nd largest position. LGT Group Foundation’s holdings in Tesla were worth $65,951,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB raised its position in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Tesla in the third quarter valued at $403,000. Lansing Street Advisors raised its position in Tesla by 4.0% in the third quarter. Lansing Street Advisors now owns 1,852 shares of the electric vehicle producer’s stock valued at $485,000 after purchasing an additional 72 shares during the period. Blue Square Asset Management LLC raised its position in Tesla by 9.0% in the third quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock valued at $7,464,000 after purchasing an additional 2,350 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in Tesla by 12.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock valued at $213,833,000 after purchasing an additional 93,389 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Guggenheim reiterated a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday. Finally, Piper Sandler upped their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $318.77.

Tesla Stock Performance

Shares of TSLA stock opened at $284.65 on Tuesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $915.58 billion, a price-to-earnings ratio of 139.53, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock has a 50 day simple moving average of $382.44 and a 200-day simple moving average of $318.01. 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) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 403,996 shares of company stock valued at $153,721,387 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.