EULAV Asset Management Buys 11,501 Shares of Tesla, Inc. (NASDAQ:TSLA)

EULAV Asset Management increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,011 shares of the electric vehicle producer's stock after purchasing an additional 11,501 shares during the quarter. EULAV Asset Management's holdings in Tesla were worth $16,071,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in shares of Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at $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. Insiders sold 829,509 shares of company stock valued at $277,648,925 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 6.8%

Shares of NASDAQ TSLA traded down $21.41 during midday trading on Monday, reaching $293.94. The company's stock had a trading volume of 130,417,797 shares, compared to its average volume of 101,042,446. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market capitalization of $946.77 billion, a price-to-earnings ratio of 161.51, a PEG ratio of 9.17 and a beta of 2.39. The stock has a 50 day simple moving average of $320.93 and a 200-day simple moving average of $324.35.

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

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Royal Bank Of Canada reduced their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Cantor Fitzgerald reduced their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays reduced their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $301.60.

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.