LGT Group Foundation Sells 9,033 Shares of Tesla, Inc. (NASDAQ:TSLA)

LGT Group Foundation trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 276,540 shares of the electric vehicle producer’s stock after selling 9,033 shares during the period. Tesla comprises about 1.5% of LGT Group Foundation’s holdings, making the stock its 15th largest position. LGT Group Foundation’s holdings in Tesla were worth $70,014,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the last quarter. Oak Ridge Investments LLC raised its holdings in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after purchasing an additional 1,405 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. TD Cowen decreased their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Truist Financial decreased their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. China Renaissance assumed coverage on shares of Tesla in a report on Monday, February 26th. They set a “hold” rating for the company. Finally, Evercore ISI decreased their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Price Performance

Tesla stock traded down $0.44 during mid-day trading on Thursday, hitting $179.55. 45,451,384 shares of the company traded hands, compared to its average volume of 104,439,133. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The stock has a market cap of $572.62 billion, a price-to-earnings ratio of 45.57, a price-to-earnings-growth ratio of 4.98 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a fifty day moving average price of $174.41 and a 200-day moving average price of $206.11.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. 25.10% of the stock is owned by insiders.

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.