Quintet Private Bank Europe S.A. Sells 7,590 Shares of Tesla, Inc. $TSLA

Quintet Private Bank Europe S.A. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,446 shares of the electric vehicle producer's stock after selling 7,590 shares during the period. Tesla makes up 0.9% of Quintet Private Bank Europe S.A.'s portfolio, making the stock its 28th largest holding. Quintet Private Bank Europe S.A.'s holdings in Tesla were worth $16,342,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in Tesla in the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC raised its holdings in Tesla by 27,378.6% in 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 buying an additional 9,776,607 shares during the period. Amundi grew its position in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Canaccord Genuity Group increased their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Mizuho dropped their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Finally, Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $303.00.

Tesla Stock Up 7.4%

TSLA stock opened at $395.94 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06. The firm has a 50-day simple moving average of $328.89 and a 200-day simple moving average of $303.72. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

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 for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock valued at $51,999,662 over 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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