Lbp Am Sa Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

LBP AM SA decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,319 shares of the electric vehicle producer's stock after selling 57,942 shares during the quarter. Tesla makes up about 0.7% of LBP AM SA's portfolio, making the stock its 28th biggest holding. LBP AM SA's holdings in Tesla were worth $44,399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank lifted its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at about $27,000. Finally, True Wealth Design LLC lifted its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 in the last three months. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on TSLA. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. HSBC reiterated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $300.19.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $3.64 during mid-day trading on Friday, hitting $313.51. 78,861,329 shares of the company were exchanged, compared to its average volume of 99,596,575. 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 stock has a 50 day simple moving average of $322.60 and a 200-day simple moving average of $320.26. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 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 in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.