Lbp Am Sa Has $44.40 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

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

Other institutional investors have also modified their holdings of the company. Rinkey Investments grew its holdings in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares in the last quarter. Pitti Group Wealth Management LLC grew its holdings in shares of Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after purchasing an additional 31 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares in the last quarter. Finally, Aldebaran Financial Inc. grew its holdings in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 4.7%

Shares of NASDAQ TSLA traded up $13.99 during midday trading on Thursday, hitting $309.87. The stock had a trading volume of 103,742,838 shares, compared to its average volume of 100,391,799. The company's 50-day simple moving average is $322.07 and its 200 day simple moving average is $322.26. The firm has a market cap of $998.08 billion, a P/E ratio of 170.26, a price-to-earnings-growth ratio of 8.80 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 firm 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 period last year, the business posted $0.45 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was 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 approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% 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 quarter. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Benchmark reissued 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. Raymond James Financial lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised their target price on Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Roth Mkm cut their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $301.13.

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.