Sapient Capital LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Sapient Capital LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the first quarter, Holdings Channel reports. The fund owned 11,303 shares of the electric vehicle producer’s stock after selling 595 shares during the quarter. Sapient Capital LLC’s holdings in Tesla were worth $1,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wyrmwood Management LLC acquired a new position in Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC boosted its stake in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its stake in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Wells Fargo & Company reduced their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Mizuho reduced their price objective on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $184.32.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction 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 in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last ninety days. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Down 5.6 %

Shares of Tesla stock traded down $10.77 on Tuesday, hitting $183.28. 126,403,453 shares of the company traded hands, compared to its average volume of 105,362,438. The company has a 50-day moving average price of $174.71 and a 200 day moving average price of $206.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a market cap of $584.52 billion, a PE ratio of 46.76, a PEG ratio of 4.45 and a beta of 2.40.

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.