Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,510 shares of the electric vehicle producer’s stock after selling 584 shares during the period. Cypress Capital Group’s holdings in Tesla were worth $1,014,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Crew Capital Management Ltd. raised its stake in shares of Tesla by 43.4% in the fourth quarter. Crew Capital Management Ltd. now owns 5,168 shares of the electric vehicle producer’s stock valued at $2,087,000 after acquiring an additional 1,565 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Tesla by 1.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,085,957 shares of the electric vehicle producer’s stock valued at $842,393,000 after acquiring an additional 23,405 shares in the last quarter. Mayport LLC raised its stake in Tesla by 4.2% in the fourth quarter. Mayport LLC now owns 1,783 shares of the electric vehicle producer’s stock valued at $720,000 after buying an additional 72 shares in the last quarter. Keybank National Association OH raised its stake in Tesla by 4.3% in the fourth quarter. Keybank National Association OH now owns 49,001 shares of the electric vehicle producer’s stock valued at $19,789,000 after buying an additional 2,033 shares in the last quarter. Finally, SWS Partners raised its stake in Tesla by 103.4% in the fourth quarter. SWS Partners now owns 1,928 shares of the electric vehicle producer’s stock valued at $779,000 after buying an additional 980 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,386 shares of company stock worth $153,916,675 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $279.10 on Thursday. The firm has a 50 day moving average of $374.97 and a 200-day moving average of $318.13. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $897.73 billion, a price-to-earnings ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Truist Financial raised their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $315.33.

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.