Mackenzie Financial Corp Sells 112,406 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mackenzie Financial Corp reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 317,454 shares of the electric vehicle producer's stock after selling 112,406 shares during the quarter. Mackenzie Financial Corp's holdings in Tesla were worth $82,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Capital Management LLC purchased a new position in shares of Tesla in the fourth quarter worth approximately $331,000. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Tesla during the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla during the 4th quarter worth approximately $2,367,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction 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. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following 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 723,119 shares of company stock valued at $247,324,149 over the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TSLA shares. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. 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. Finally, Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $302.75.

Tesla Stock Up 3.0%

NASDAQ TSLA opened at $325.59 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $324.37 and a two-hundred day moving average of $313.04. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 188.20, a PEG ratio of 9.93 and a beta of 2.39. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.

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