American Century Companies Inc. Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• American Century Companies Inc. reduced its holdings in Tesla by 2.2% in the first quarter, owning approximately 7,064,387 shares, which now represent 1.1% of its investment portfolio.
• Tesla reported a quarterly EPS of $0.40, missing analyst estimates of $0.43, and experienced an 11.8% decline in revenue compared to the same quarter last year.
• A number of analysts have revised their price targets for Tesla, with Barclays setting a new target of $275, while the average consensus rating remains at "Hold".

American Century Companies Inc. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,064,387 shares of the electric vehicle producer's stock after selling 157,691 shares during the quarter. Tesla comprises 1.1% of American Century Companies Inc.'s investment portfolio, making the stock its 9th largest position. American Century Companies Inc. owned approximately 0.22% of Tesla worth $1,830,807,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in Tesla during the fourth quarter valued at $56,600,000. Means Investment CO. Inc. raised its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Tesla in the fourth quarter worth $8,158,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA stock opened at $335.58 on Friday. The company has a market cap of $1.08 trillion, a P/E ratio of 193.98, a price-to-earnings-growth ratio of 11.80 and a beta of 2.33. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business's fifty day moving average is $319.71 and its 200-day moving average is $306.28.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Roth Mkm reduced their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 in the last three months. Insiders own 20.70% of the company's stock.

Tesla 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.

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