Allianz SE lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,110 shares of the electric vehicle producer's stock after selling 2,224 shares during the period. Tesla accounts for about 0.7% of Allianz SE's investment portfolio, making the stock its 27th largest position. Allianz SE's holdings in Tesla were worth $26,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. FMR LLC lifted its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Northern Trust Corp lifted its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after acquiring an additional 158,697 shares during the period. Nuveen Asset Management LLC lifted its stake in Tesla by 19.8% in the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock worth $5,294,010,000 after acquiring an additional 2,170,449 shares during the period. Finally, Invesco Ltd. lifted its stake in Tesla by 6.6% in the fourth quarter. Invesco Ltd. now owns 12,575,114 shares of the electric vehicle producer's stock worth $5,078,334,000 after acquiring an additional 774,383 shares during the period. Institutional investors own 66.20% of the company's stock.
Tesla Price Performance
TSLA stock traded down $5.64 during midday trading on Friday, reaching $302.63. The stock had a trading volume of 88,785,612 shares, compared to its average volume of 96,195,928. The company's fifty day simple moving average is $322.22 and its 200 day simple moving average is $310.31. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $976.12 billion, a price-to-earnings ratio of 174.93, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Wedbush reiterated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $303.31.
Get Our Latest Research Report on Tesla
Insider Buying and Selling
In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,119 shares of company stock valued at $246,186,549 over the last 90 days. Insiders own 20.70% of the company's stock.
About Tesla
(
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.
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