Gateway Investment Advisers LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Gateway Investment Advisers LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,195 shares of the electric vehicle producer's stock after selling 7,477 shares during the quarter. Tesla makes up approximately 1.5% of Gateway Investment Advisers LLC's holdings, making the stock its 12th largest holding. Gateway Investment Advisers LLC's holdings in Tesla were worth $129,631,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its stake in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its holdings in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA stock opened at $295.14 on Friday. The firm has a fifty day simple moving average of $292.17 and a 200-day simple moving average of $333.62. The company has a market capitalization of $950.63 billion, a PE ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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 for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at $682,500. The trade was a 33.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. Canaccord Genuity Group reduced their target price on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Royal Bank of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and increased their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Guggenheim reiterated a "sell" rating and issued a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $294.27.

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.

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