BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 471,660 Shares of Tesla, Inc. $TSLA

Key Points

• BNP Paribas Asset Management increased its holdings in Tesla, acquiring an additional 471,660 shares, which represents a 42.3% growth in their stake, bringing their total ownership to 1,585,468 shares valued at approximately $410.98 million.
• Over the last several months, various institutional investors have also made adjustments to their Tesla holdings, with hedge funds now owning about 66.20% of the company's stock.
• Despite recent price target changes from analysts, Tesla has a consensus rating of "Hold" with a price target of approximately $303.31, following a report that showed a decline in year-over-year revenue and earnings per share.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,585,468 shares of the electric vehicle producer's stock after buying an additional 471,660 shares during the period. Tesla accounts for approximately 1.1% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings, making the stock its 12th biggest position. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Tesla were worth $410,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rinkey Investments boosted its stake in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Aldebaran Financial Inc. grew its holdings in shares of Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after buying an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC raised its holdings in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after acquiring an additional 36 shares during the last quarter. Finally, Solutions 4 Wealth Ltd lifted its position in Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after acquiring an additional 36 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Mizuho lowered their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Finally, Piper Sandler reissued an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Ten 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 company's stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on 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 sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 599,724 shares of company stock valued at $213,126,501. Insiders own 20.70% of the company's stock.

Tesla Trading Down 1.5%

Shares of TSLA opened at $330.56 on Monday. The stock has a market capitalization of $1.07 trillion, a PE ratio of 191.08, a P/E/G ratio of 11.49 and a beta of 2.33. The company's fifty day moving average is $320.41 and its 200 day moving average is $304.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The business's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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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