Jericho Financial LLP Sells 4,674 Shares of Tesla, Inc. (NASDAQ:TSLA)

Jericho Financial LLP reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,900 shares of the electric vehicle producer's stock after selling 4,674 shares during the period. Tesla comprises about 2.2% of Jericho Financial LLP's investment portfolio, making the stock its 25th biggest position. Jericho Financial LLP's holdings in Tesla were worth $3,084,000 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 bought a new position in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC lifted its holdings in Tesla by 40.1% during 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. GAMMA Investing LLC lifted its holdings in Tesla by 27,378.6% during 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 purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Tesla by 4,963.0% during the 4th 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 last quarter. Finally, Northern Trust Corp raised its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 0.0%

Tesla stock opened at $322.16 on Monday. The stock has a market capitalization of $1.04 trillion, a PE ratio of 177.01, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $306.22 and a 200-day moving average of $331.70.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TSLA shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Mizuho boosted their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $293.67.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction on 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 in the company, valued at approximately $682,500. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

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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