Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,652 shares of the electric vehicle producer’s stock after selling 472 shares during the period. Sitrin Capital Management LLC’s holdings in Tesla were worth $1,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Weil Company Inc. increased its position in Tesla by 86.2% in the 4th quarter. Weil Company Inc. now owns 3,597 shares of the electric vehicle producer’s stock valued at $1,453,000 after acquiring an additional 1,665 shares during the period. Advisor OS LLC increased its position in Tesla by 17.9% in the 4th quarter. Advisor OS LLC now owns 7,230 shares of the electric vehicle producer’s stock valued at $2,920,000 after acquiring an additional 1,097 shares during the period. Cutter & CO Brokerage Inc. acquired a new position in Tesla during the 4th quarter worth approximately $203,000. Denali Advisors LLC increased its position in Tesla by 106.2% during the 4th quarter. Denali Advisors LLC now owns 31,114 shares of the electric vehicle producer’s stock worth $12,565,000 after purchasing an additional 16,022 shares during the period. Finally, Lake Street Advisors Group LLC increased its position in Tesla by 14.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 24,689 shares of the electric vehicle producer’s stock worth $9,970,000 after purchasing an additional 3,130 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 523,386 shares of company stock worth $195,995,200 in the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Guggenheim reiterated a “sell” rating on shares of Tesla in a research report on Tuesday. Jefferies Financial Group boosted their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $318.77.

Tesla Trading Up 4.0 %

Shares of TSLA opened at $293.33 on Friday. The stock has a fifty day moving average of $385.35 and a two-hundred day moving average of $315.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $943.49 billion, a PE ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Tesla, Inc. will post 2.56 EPS 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.