Perpetual Ltd Sells 1,351 Shares of Tesla, Inc. (NASDAQ:TSLA)

Perpetual Ltd lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,230 shares of the electric vehicle producer's stock after selling 1,351 shares during the quarter. Perpetual Ltd's holdings in Tesla were worth $1,096,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in Tesla during the 4th quarter worth $14,420,248,000. FMR LLC lifted its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position 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 worth $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp grew 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 worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Down 0.7%

NASDAQ TSLA opened at $323.63 on Friday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock has a market capitalization of $1.04 trillion, a PE ratio of 177.82, a PEG ratio of 12.10 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The business's 50-day moving average is $314.93 and its 200 day moving average is $329.82.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the business posted $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Wells Fargo & Company dropped their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird restated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Friday, June 20th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $298.37.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last quarter. Corporate 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

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.