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

Lyell Wealth Management LP lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the last quarter. Morgan Stanley boosted its stake in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. FMR LLC boosted its position in Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares during the period. Northern Trust Corp boosted its position in Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after buying an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Tesla by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock valued at $3,677,502,000 after buying an additional 496,299 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Redburn Atlantic initiated coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target for the company. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday. Sanford C. Bernstein reduced their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Finally, UBS Group reduced their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $186.70.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Trading Up 3.8 %

Shares of NASDAQ TSLA traded up $6.24 during mid-day trading on Thursday, reaching $168.37. 100,839,435 shares of the company’s stock were exchanged, compared to its average volume of 102,948,531. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company’s 50-day moving average is $176.28 and its 200-day moving average is $208.91.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 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 firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the business earned $1.07 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

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.