Krane Funds Advisors LLC Sells 3,925 Shares of Tesla, Inc. (NASDAQ:TSLA)

Krane Funds Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,410 shares of the electric vehicle producer’s stock after selling 3,925 shares during the period. Tesla accounts for about 0.2% of Krane Funds Advisors LLC’s portfolio, making the stock its 16th biggest position. Krane Funds Advisors LLC’s holdings in Tesla were worth $3,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. boosted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at $38,000. Delos Wealth Advisors LLC increased its stake in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in shares of Tesla during the fourth quarter worth $44,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,228 shares of company stock worth $122,791,123 over the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Guggenheim reduced their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Finally, Stifel Nicolaus lowered their target price on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a report on Monday, March 31st. Eight analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $312.65.

Tesla Trading Down 10.4 %

NASDAQ:TSLA opened at $239.43 on Monday. The company has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a fifty day simple moving average of $305.98 and a 200-day simple moving average of $324.24.

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

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.