Federation des caisses Desjardins du Quebec Lowers Position in Tesla, Inc. $TSLA

Key Points

• The Federation des caisses Desjardins du Quebec reduced its Tesla holdings by 28.2%, selling 71,443 shares and now owning 181,627 shares valued at approximately $47 million.
• Goldman Sachs increased its stake in Tesla by 322.1%, owning over 26 million shares worth about $6.89 billion after acquiring an additional 20 million shares.
• Insiders at Tesla have sold a total of 143,564 shares worth around $49.4 million in the last 90 days, with corporate insiders owning 20.70% of the company's stock.

Federation des caisses Desjardins du Quebec reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,627 shares of the electric vehicle producer's stock after selling 71,443 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Tesla were worth $47,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla during the first quarter worth $3,247,619,000. GAMMA Investing LLC raised its holdings in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Vanguard Group Inc. grew its position in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Tesla by 54.3% during the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock worth $2,193,728,000 after acquiring an additional 2,978,026 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,564 shares of company stock worth $49,396,070 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Down 3.5%

NASDAQ:TSLA opened at $333.87 on Tuesday. The stock has a market capitalization of $1.08 trillion, a PE ratio of 192.99, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06. The business's 50-day simple moving average is $323.29 and its 200-day simple moving average is $302.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $205.97 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 the consensus estimate of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The company's 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.

Analyst Upgrades and Downgrades

A number of analysts have commented on TSLA shares. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Canaccord Genuity Group increased their price target on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. China Renaissance restated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $303.31.

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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