Cypress Point Wealth Management LLC Has $6.20 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Cypress Point Wealth Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,354 shares of the electric vehicle producer’s stock after selling 293 shares during the quarter. Tesla accounts for approximately 1.9% of Cypress Point Wealth Management LLC’s holdings, making the stock its 9th largest position. Cypress Point Wealth Management LLC’s holdings in Tesla were worth $6,201,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. raised its stake in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $398.31 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 109.13, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a fifty day simple moving average of $399.99 and a two-hundred day simple moving average of $295.57. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Barclays upped their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group lifted their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $313.84.

About Tesla

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.