Bessemer Group Inc. Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bessemer Group Inc. lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 56.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,384 shares of the electric vehicle producer's stock after selling 51,306 shares during the quarter. Bessemer Group Inc.'s holdings in Tesla were worth $10,206,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. boosted 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 acquiring an additional 34 shares during the period. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC purchased a new stake in shares of Tesla in the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was 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 in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's 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 completion of the transaction, the director now owns 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 disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Wedbush reiterated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Friday, June 20th. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $298.37.

Tesla Stock Performance

Shares of TSLA stock traded down $2.15 during mid-day trading on Friday, reaching $323.63. The stock had a trading volume of 88,778,334 shares, compared to its average volume of 101,831,688. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.25 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business's fifty day moving average is $313.28 and its 200-day moving average is $331.01.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.