Gold Investment Management Ltd. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Gold Investment Management Ltd. trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,351 shares of the electric vehicle producer's stock after selling 1,649 shares during the quarter. Tesla accounts for 1.2% of Gold Investment Management Ltd.'s holdings, making the stock its 29th largest holding. Gold Investment Management Ltd.'s holdings in Tesla were worth $2,942,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC lifted its holdings 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 worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its position in 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 valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during 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 in the last quarter. Finally, Northern Trust Corp boosted its position in Tesla by 21.6% during the fourth 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 in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 0.7%

Tesla stock opened at $323.63 on Friday. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.82, a price-to-earnings-growth ratio of 12.10 and a beta of 2.47. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The business's 50-day moving average price is $314.93 and its 200 day moving average price is $329.82. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

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

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Wedbush reaffirmed an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Friday, June 20th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $298.37.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction dated 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 now owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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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