Bank Pictet & Cie Europe AG Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bank Pictet & Cie Europe AG lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 39.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,054 shares of the electric vehicle producer's stock after selling 7,803 shares during the period. Bank Pictet & Cie Europe AG's holdings in Tesla were worth $3,124,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TSLA. Vista Finance LLC lifted its stake in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Jmac Enterprises LLC lifted its position in shares of Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock worth $1,569,000 after purchasing an additional 26 shares during the last quarter. TFB Advisors LLC lifted its position in shares of Tesla by 0.5% during the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer's stock worth $2,105,000 after purchasing an additional 27 shares during the last quarter. Vista Capital Partners Inc. increased its holdings in Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer's stock valued at $795,000 after buying an additional 27 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC raised its stake in Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer's stock valued at $875,000 after buying an additional 27 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TSLA shares. Guggenheim reiterated a "sell" rating on shares of Tesla in a report on Friday, June 13th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Morgan Stanley restated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Trading Up 1.8%

NASDAQ:TSLA traded up $5.70 on Thursday, reaching $322.05. The stock had a trading volume of 94,677,402 shares, compared to its average volume of 100,787,054. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 176.95, a P/E/G ratio of 11.88 and a beta of 2.47. The firm's fifty day moving average is $303.42 and its two-hundred day moving average is $332.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the company posted $0.45 EPS. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% 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 the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares of the company's stock, 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 sold a total of 833,509 shares of company stock valued at $278,648,925 over the last quarter. Company 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.