Lake Street Private Wealth LLC Sells 828 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lake Street Private Wealth LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,953 shares of the electric vehicle producer’s stock after selling 828 shares during the period. Lake Street Private Wealth LLC’s holdings in Tesla were worth $1,193,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group grew its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus raised their target price on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $299.33.

Tesla Stock Performance

NASDAQ TSLA opened at $426.50 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $389.94 and a 200 day simple moving average of $288.49. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.