PARUS FINANCE UK Ltd Has $614,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• PARUS FINANCE UK Ltd significantly reduced its position in Tesla, cutting its shares by 83.7% in Q1, holding just 2,370 shares worth $614,000.
• Several institutional investors increased their stakes in Tesla, with GAMMA Investing LLC raising its position by 27,378.6%, now holding shares valued at over $2.5 billion.
• Brokerages have varied opinions on Tesla stock, with Baird R W downgrading its rating to "hold" while other firms maintain a "buy" rating with a target price as high as $475.00.

PARUS FINANCE UK Ltd reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 83.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,370 shares of the electric vehicle producer's stock after selling 12,159 shares during the period. Tesla makes up approximately 0.2% of PARUS FINANCE UK Ltd's investment portfolio, making the stock its 26th biggest position. PARUS FINANCE UK Ltd's holdings in Tesla were worth $614,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. GAMMA Investing LLC raised its position in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Northern Trust Corp boosted its position in Tesla by 21.6% in the fourth 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. Assenagon Asset Management S.A. boosted its position in Tesla by 54.3% in the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after buying an additional 2,978,026 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Tesla by 65.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,937,475 shares of the electric vehicle producer's stock valued at $2,397,790,000 after buying an additional 2,350,065 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Tesla by 19.8% in the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after buying an additional 2,170,449 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSLA. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Benchmark restated a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Raymond James Financial cut shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $309.26 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. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock's 50 day moving average is $321.62 and its 200-day moving average is $309.49. The firm has a market capitalization of $997.50 billion, a price-to-earnings ratio of 178.76, a PEG ratio of 10.63 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 606,724 shares of company stock worth $215,376,831 in the last ninety days. Corporate insiders own 20.70% 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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