Artemis Investment Management LLP Has $10.97 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Artemis Investment Management LLP trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 65.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,312 shares of the electric vehicle producer's stock after selling 80,246 shares during the period. Artemis Investment Management LLP's holdings in Tesla were worth $10,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC raised its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. True Wealth Design LLC raised its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $323.63 on Friday. The business has a 50 day moving average price of $314.93 and a 200 day moving average price of $330.48. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.18 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the company earned $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. HSBC lowered their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Barclays lowered their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Canaccord Genuity Group lowered their target price on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Oppenheimer restated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $298.37.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company'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 completion of the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 in the last quarter. Corporate insiders own 20.70% of the company's stock.

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.

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