Van ECK Associates Corp Sells 4,666 Shares of Tesla, Inc. (NASDAQ:TSLA)

Van ECK Associates Corp lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,334 shares of the electric vehicle producer’s stock after selling 4,666 shares during the quarter. Van ECK Associates Corp’s holdings in Tesla were worth $17,973,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Wyrmwood Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC grew its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. raised its stake in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new position in Tesla in the third quarter worth $53,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 in the company, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Down 1.8 %

NASDAQ:TSLA opened at $179.99 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The stock’s fifty day simple moving average is $174.41 and its 200-day simple moving average is $206.11. The firm has a market capitalization of $574.02 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.98 and a beta of 2.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. HSBC reduced their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday, April 24th. Truist Financial cut their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, Mizuho reduced their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $184.32.

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.