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

Guggenheim Capital LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 431,890 shares of the electric vehicle producer's stock after selling 117,526 shares during the quarter. Tesla accounts for 1.4% of Guggenheim Capital LLC's portfolio, making the stock its 8th largest position. Guggenheim Capital LLC's holdings in Tesla were worth $174,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Destination Wealth Management grew its position in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC grew its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after acquiring an additional 891 shares during the period. Worth Asset Management LLC increased its position in Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after acquiring an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its position in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in shares of Tesla by 104.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after purchasing an additional 29,458 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock valued at $123,791,123 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 0.2 %

NASDAQ TSLA traded down $0.39 on Friday, hitting $241.17. The stock had a trading volume of 83,173,157 shares, compared to its average volume of 95,997,504. The business's fifty day moving average price is $273.93 and its 200 day moving average price is $322.21. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $775.71 billion, a price-to-earnings ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSLA shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Morgan Stanley reduced their price target on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Wedbush lowered their target price on Tesla from $550.00 to $315.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. Mizuho lowered their price objective on shares of Tesla from $430.00 to $375.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Finally, Piper Sandler reduced their target price on shares of Tesla from $450.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $292.18.

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.