Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,022,377 shares of the electric vehicle producer’s stock after selling 67,884 shares during the quarter. Tesla accounts for 0.5% of Russell Investments Group Ltd.’s portfolio, making the stock its 25th largest position. Russell Investments Group Ltd.’s holdings in Tesla were worth $255,139,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TSLA. International Assets Investment Management LLC lifted its holdings in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tesla by 1.6% during 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. California Public Employees Retirement System lifted its holdings in Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after buying an additional 2,293,344 shares during the last quarter. Morgan Stanley lifted its holdings in 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 buying an additional 2,177,397 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. China Renaissance began coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. Sanford C. Bernstein cut their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Truist Financial cut their price target on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. Mizuho cut their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $186.70.

Insider Transactions at Tesla

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

Tesla Stock Down 1.1 %

Shares of Tesla stock traded down $1.89 during midday trading on Friday, hitting $168.29. The company’s stock had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. The firm has a market capitalization of $536.71 billion, a P/E ratio of 42.93, a PEG ratio of 4.50 and a beta of 2.39. The stock has a 50-day simple moving average of $175.04 and a 200-day simple moving average of $208.00. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Tesla 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.