Ninety One UK Ltd Decreases Stake in Tesla, Inc. $TSLA

Ninety One UK Ltd reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 725,830 shares of the electric vehicle producer's stock after selling 658,620 shares during the period. Ninety One UK Ltd's holdings in Tesla were worth $230,567,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Means Investment CO. Inc. increased its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its stake in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the period. Siren L.L.C. purchased a new stake in shares of Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC increased its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla during the first quarter worth $594,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 5.1%

Shares of Tesla stock opened at $436.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The business's fifty day moving average price is $361.74 and its two-hundred day moving average price is $319.98. The company 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 issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a research report on Friday, September 26th. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $341.46.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company's stock.

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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