Ninety One SA PTY Ltd Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ninety One SA PTY Ltd cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,523 shares of the electric vehicle producer's stock after selling 2,804 shares during the period. Ninety One SA PTY Ltd's holdings in Tesla were worth $4,258,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC lifted its stake in Tesla by 27,378.6% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Tesla by 4,963.0% in the 4th 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 in the last quarter. Finally, Northern Trust Corp lifted its stake 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 buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock traded up $3.64 on Friday, reaching $313.51. 78,861,329 shares of the stock were exchanged, compared to its average volume of 99,821,915. Tesla, Inc. has a 1-year low of $182.00 and a 1-year 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 business has a fifty day moving average price of $322.60 and a two-hundred day moving average price of $321.24. The firm has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a PEG ratio of 9.22 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Mizuho dropped their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $300.19.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% 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 in the last ninety days. Company insiders own 20.70% of the company's stock.

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.