Pictet Asset Management Holding SA Sells 346,669 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pictet Asset Management Holding SA reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,933,645 shares of the electric vehicle producer's stock after selling 346,669 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Tesla worth $501,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the fourth quarter valued at $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Up 2.1%

TSLA stock traded up $6.64 during trading on Friday, reaching $326.05. 28,985,909 shares of the stock were exchanged, compared to its average volume of 98,688,438. 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 50 day moving average price of $325.64 and a 200-day moving average price of $317.81. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 179.43, a P/E/G ratio of 9.80 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 analysts' expectations of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Glj Research reaffirmed a "sell" rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Barclays reduced their price objective 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. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $300.19.

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.

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