LGT Group Foundation Sells 9,033 Shares of Tesla, Inc. (NASDAQ:TSLA)

LGT Group Foundation lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 276,540 shares of the electric vehicle producer’s stock after selling 9,033 shares during the quarter. Tesla accounts for 1.5% of LGT Group Foundation’s holdings, making the stock its 15th largest position. LGT Group Foundation’s holdings in Tesla were worth $70,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Holderness Investments Co. grew its holdings in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares in the last quarter. SCS Capital Management LLC grew its holdings in shares of Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares in the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares in the last quarter. ML & R Wealth Management LLC grew its holdings in shares of Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after purchasing an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc grew its holdings in shares of Tesla by 3.5% in the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock valued at $344,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. Truist Financial cut their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. TD Cowen cut their target price on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday, April 24th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Down 0.2 %

Shares of TSLA stock traded down $0.44 on Thursday, hitting $179.55. The stock had a trading volume of 45,451,384 shares, compared to its average volume of 104,439,133. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $174.41 and a 200 day moving average price of $206.11. The company has a market cap of $572.62 billion, a PE ratio of 45.57, a P/E/G ratio of 4.98 and a beta of 2.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29.

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.