Lyell Wealth Management LP Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Lyell Wealth Management LP lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,387 shares of the electric vehicle producer’s stock after selling 129 shares during the quarter. Lyell Wealth Management LP’s holdings in Tesla were worth $1,836,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new stake in Tesla during the 4th quarter valued at $25,000. Lam Group Inc. bought a new stake in Tesla during the 4th quarter valued at $25,000. Mendota Financial Group LLC raised its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV raised its holdings in Tesla by 94.5% during the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA traded up $6.24 during trading hours on Thursday, reaching $168.37. The company had a trading volume of 100,839,435 shares, compared to its average volume of 102,948,531. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The firm has a market cap of $536.22 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 3.82 and a beta of 2.39. The firm’s 50 day moving average price is $176.28 and its 200-day moving average price is $208.91.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.68%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the firm earned $1.07 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last 90 days. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TSLA shares. UBS Group reduced their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday. Canaccord Genuity Group reduced their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group cut their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price on shares of Tesla in a research report on Monday. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $186.70.

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.