Logan Capital Management Inc. Sells 84 Shares of Tesla, Inc. (NASDAQ:TSLA)

Logan Capital Management Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 24.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262 shares of the electric vehicle producer’s stock after selling 84 shares during the quarter. Logan Capital Management Inc.’s holdings in Tesla were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. boosted its stake in Tesla by 14.8% during the fourth quarter. Sei Investments Co. now owns 688,879 shares of the electric vehicle producer’s stock worth $171,172,000 after buying an additional 88,897 shares in the last quarter. Core Wealth Advisors Inc. boosted its stake in Tesla by 50.7% during the fourth quarter. Core Wealth Advisors Inc. now owns 434 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 146 shares in the last quarter. Mosley Wealth Management acquired a new stake in Tesla during the fourth quarter worth $262,000. Evercore Wealth Management LLC boosted its stake in Tesla by 7.8% during the fourth quarter. Evercore Wealth Management LLC now owns 39,989 shares of the electric vehicle producer’s stock worth $9,936,000 after buying an additional 2,909 shares in the last quarter. Finally, Connectus Wealth LLC boosted its stake in Tesla by 18.6% during the fourth quarter. Connectus Wealth LLC now owns 111,562 shares of the electric vehicle producer’s stock worth $27,722,000 after buying an additional 17,487 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock valued at $19,285,643 in the last quarter. 20.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Tesla in a research note on Thursday, May 2nd. They issued an “overweight” rating and a $230.00 target price on the stock. Barclays reduced their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Piper Sandler restated an “overweight” rating and issued a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday. Finally, Jefferies Financial Group reduced their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $185.90.

Read Our Latest Analysis on Tesla

Tesla Price Performance

NASDAQ TSLA opened at $173.79 on Tuesday. The business has a 50 day simple moving average of $172.15 and a 200 day simple moving average of $196.77. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. 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 market cap of $554.25 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 4.40 and a beta of 2.32.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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