Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Geneva Partners LLC

Geneva Partners LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,211 shares of the electric vehicle producer’s stock after selling 1,044 shares during the period. Tesla comprises 1.3% of Geneva Partners LLC’s holdings, making the stock its 29th biggest position. Geneva Partners LLC’s holdings in Tesla were worth $2,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wyrmwood Management LLC acquired a new position in Tesla in the 4th quarter worth about $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter valued at about $25,000. Alpha Paradigm Partners LLC acquired a new stake in Tesla in the 3rd quarter worth about $27,000. Mendota Financial Group LLC increased its stake in 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 buying an additional 91 shares in the last quarter. Finally, Ogorek Anthony Joseph NY ADV lifted its holdings in Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a legal 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 Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were 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 $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last quarter. 25.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TSLA shares. Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. The Goldman Sachs Group dropped their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Jefferies Financial Group lowered their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Piper Sandler cut their target price on Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, April 2nd. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $194.70.

Tesla Stock Down 1.9 %

Shares of Tesla stock traded down $2.88 during trading hours on Friday, reaching $147.05. 86,914,652 shares of the company were exchanged, compared to its average volume of 101,650,617. The firm has a market cap of $468.32 billion, a PE ratio of 34.12, a PEG ratio of 4.11 and a beta of 2.39. The stock’s fifty day moving average is $178.51 and its 200 day moving average is $211.48. Tesla, Inc. has a 1 year low of $146.22 and a 1 year high of $299.29. 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current year.

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.