Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Redwood Investment Management LLC

Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 45.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,704 shares of the electric vehicle producer’s stock after selling 8,785 shares during the period. Redwood Investment Management LLC’s holdings in Tesla were worth $2,636,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wyrmwood Management LLC acquired a new stake in Tesla during the 4th quarter worth about $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. increased its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated 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 owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $172.30 on Wednesday. The business’s 50 day moving average price is $172.23 and its 200-day moving average price is $196.32. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. 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 $549.50 billion, a PE ratio of 43.54, a P/E/G ratio of 4.31 and a beta of 2.32.

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

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. HSBC decreased their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. Wedbush reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Tesla in a report on Monday, April 29th. China Renaissance initiated coverage on Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Guggenheim restated a “sell” rating and issued a $122.00 target price on shares of Tesla in a research note on Tuesday, April 23rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.90.

Read Our Latest Stock Report on TSLA

Tesla 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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