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

LBP AM SA cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.3% during the first quarter, according to the company in its most recent Form 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 period. Tesla comprises about 0.7% of LBP AM SA's investment portfolio, making the stock its 28th largest position. LBP AM SA's holdings in Tesla were worth $44,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Norges Bank bought a new position in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC lifted its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of 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 buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of 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 buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. The Goldman Sachs Group raised their price objective on Tesla from $285.00 to $315.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $301.13.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on 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 completion of the sale, the senior vice president directly owned 67,600 shares in the company, 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 have sold 829,509 shares of company stock worth $277,648,925 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $1.93 during trading on Wednesday, reaching $295.88. The company had a trading volume of 75,143,508 shares, compared to its average volume of 100,727,709. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $953.02 billion, a P/E ratio of 162.57, a price-to-earnings-growth ratio of 8.57 and a beta of 2.39. The company has a fifty day moving average of $321.21 and a two-hundred day moving average of $323.29.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.