Lbp Am Sa Sells 57,942 Shares of Tesla, Inc. (NASDAQ:TSLA)

LBP AM SA trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,319 shares of the electric vehicle producer's stock after selling 57,942 shares during the quarter. Tesla comprises 0.7% of LBP AM SA's portfolio, making the stock its 28th largest holding. LBP AM SA's holdings in Tesla were worth $44,399,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC lifted its holdings in 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 acquiring an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC lifted 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. Massachusetts Financial Services Co. MA lifted its holdings in Tesla by 4,963.0% in 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 acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in 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 acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. cut their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Benchmark restated a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $301.13.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,000 shares of the 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 completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, 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 a total of 835,509 shares of company stock valued at $279,420,485 over the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock traded up $6.32 during midday trading on Thursday, hitting $302.20. 55,347,610 shares of the company traded hands, compared to its average volume of 109,207,391. 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 business has a 50 day simple moving average of $321.49 and a 200-day simple moving average of $323.10. The stock has a market capitalization of $973.37 billion, a price-to-earnings ratio of 165.97, a price-to-earnings-growth ratio of 8.86 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.