Silvercrest Asset Management Group LLC Sells 15,461 Shares of Tesla, Inc. (NASDAQ:TSLA)

Silvercrest Asset Management Group LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 53.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,576 shares of the electric vehicle producer’s stock after selling 15,461 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Tesla were worth $5,483,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TSLA. Wealth Group Ltd. bought a new stake in Tesla in the fourth quarter worth $275,000. Comprehensive Financial Planning Inc. PA bought a new position in Tesla in the 4th quarter worth about $1,361,000. Tallon Kerry Patrick bought a new stake in Tesla during the 4th quarter valued at about $374,000. Cvfg LLC purchased a new position in Tesla in the fourth quarter worth about $899,000. Finally, Empirical Asset Management LLC lifted its stake in shares of Tesla by 1,739.1% in the fourth quarter. Empirical Asset Management LLC now owns 58,282 shares of the electric vehicle producer’s stock worth $23,537,000 after buying an additional 55,113 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Raymond James cut Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Finally, Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $289.43.

Insider Activity

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock worth $115,600,501 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $349.98 on Monday. The company has a 50 day simple moving average of $267.35 and a two-hundred day simple moving average of $330.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $1.13 trillion, a P/E ratio of 171.56, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter last year, the firm posted $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.