Ninety One SA PTY Ltd Sells 7,109 Shares of Tesla, Inc. $TSLA

Key Points

• Ninety One SA PTY Ltd reduced its Tesla holdings by 43.0%, selling 7,109 shares and retaining 9,414 shares worth approximately $2,995,000.
• Goldman Sachs Group Inc. significantly increased its Tesla shares by 322.1%, amassing over 26.5 million shares valued at $6.89 billion.
• Tesla reported a quarterly EPS of $0.40, missing the estimate of $0.43, with revenues down 11.8% year-over-year at $22.50 billion.

Ninety One SA PTY Ltd trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,414 shares of the electric vehicle producer's stock after selling 7,109 shares during the quarter. Ninety One SA PTY Ltd's holdings in Tesla were worth $2,995,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi raised its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 5.1%

NASDAQ TSLA opened at $436.00 on Friday. 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 business has a fifty day simple moving average of $361.74 and a 200 day simple moving average of $319.98. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The business's revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday, September 26th. Guggenheim reissued a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Dbs Bank raised their target price on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and eight have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $341.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.