Quilter Plc reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,488 shares of the electric vehicle producer's stock after selling 2,758 shares during the quarter. Quilter Plc's holdings in Tesla were worth $7,642,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% during the 4th 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 during the last quarter. GAMMA Investing LLC increased its holdings in Tesla by 27,378.6% during the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Tesla by 4,963.0% in the fourth 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 during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.
Analyst Ratings Changes
TSLA has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and set a $500.00 price target on shares of Tesla in a report on Friday, June 20th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Benchmark reiterated a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Finally, Glj Research reaffirmed a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $298.37.
Read Our Latest Stock Report on Tesla
Tesla Stock Performance
Shares of TSLA opened at $323.63 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a price-to-earnings-growth ratio of 12.18 and a beta of 2.47. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The stock's 50-day simple moving average is $314.93 and its 200 day simple moving average is $330.48.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the company posted $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Insider Buying and Selling at Tesla
In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 in the last three months. Company insiders own 20.70% of the company's stock.
About Tesla
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Free Report)
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.
Further Reading
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).
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