Banco de Sabadell S.A Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Banco de Sabadell S.A lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 38.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578 shares of the electric vehicle producer’s stock after selling 357 shares during the quarter. Banco de Sabadell S.A’s holdings in Tesla were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Holderness Investments Co. grew its holdings in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the period. SCS Capital Management LLC lifted its position in shares of Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after acquiring an additional 45 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares in the last quarter. LCM Capital Management Inc lifted its position in shares of Tesla by 3.5% in the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock valued at $344,000 after acquiring an additional 46 shares in the last quarter. Finally, Cravens & Co Advisors LLC lifted its position in shares of Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,097 shares of company stock worth $37,877,471. 20.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TSLA shares. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price on shares of Tesla in a research report on Monday, April 22nd. Jefferies Financial Group decreased their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Truist Financial decreased their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, HSBC decreased their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $185.90.

Tesla Trading Down 3.5 %

Shares of TSLA stock traded down $6.49 on Wednesday, hitting $180.11. The stock had a trading volume of 88,122,390 shares, compared to its average volume of 101,175,844. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $574.41 billion, a P/E ratio of 46.36, a P/E/G ratio of 4.83 and a beta of 2.41. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company’s 50 day moving average price is $170.94 and its 200-day moving average price is $201.90.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Analysts anticipate that Tesla, Inc. will post 1.89 earnings per share 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.