Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC reduced its position in Tesla, Inc. by 41.4%, holding 425,000 shares after selling 300,000 shares, now constituting 2.3% of its portfolio.
• The stock received mixed ratings from analysts, with price targets ranging from $137.00 to $500.00, and a consensus rating of "Hold" with an average target of $303.31.
• Tesla's earnings report showed a miss with $0.40 EPS compared to the expected $0.43, and revenue of $22.50 billion, down 11.8% from last year.

Mizuho Markets Americas LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 425,000 shares of the electric vehicle producer's stock after selling 300,000 shares during the period. Tesla makes up 2.3% of Mizuho Markets Americas LLC's investment portfolio, making the stock its 13th largest position. Mizuho Markets Americas LLC's holdings in Tesla were worth $110,143,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Northern Trust Corp raised its position 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 purchasing an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after purchasing an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. UBS Group set a $290.00 price target on Tesla in a research report on Monday, June 30th. BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, August 4th. Finally, Cantor Fitzgerald dropped their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $303.31.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock valued at $214,176,831 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of TSLA traded up $7.34 during mid-day trading on Friday, hitting $329.61. The company's stock had a trading volume of 90,979,625 shares, compared to its average volume of 89,568,456. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $318.68 and a 200 day simple moving average of $307.45. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 190.53, a P/E/G ratio of 11.58 and a beta of 2.33. Tesla, Inc. has a 1-year low of $194.67 and a 1-year high of $488.54.

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