Tesla, Inc. $TSLA Shares Sold by Lyell Wealth Management LP

by · The Cerbat Gem

Lyell Wealth Management LP trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,040 shares of the electric vehicle producer’s stock after selling 81 shares during the quarter. Lyell Wealth Management LP’s holdings in Tesla were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Siren L.L.C. acquired a new position in shares of Tesla during the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC boosted its stake in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new position in Tesla during the first quarter worth about $594,000. Strs Ohio acquired a new position in Tesla during the first quarter worth about $205,495,000. Finally, IFM Investors Pty Ltd raised its position in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.5%

NASDAQ TSLA opened at $439.31 on Monday. The firm’s 50 day moving average price is $387.54 and its two-hundred day moving average price is $334.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Piper Sandler raised their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Royal Bank Of Canada increased their price objective on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Wedbush raised their price objective on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $363.54.

Check Out Our Latest Report on Tesla

Tesla Company Profile

(Free Report)

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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