DekaBank Deutsche Girozentrale Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,942,721 shares of the electric vehicle producer's stock after selling 25,297 shares during the quarter. Tesla accounts for approximately 0.9% of DekaBank Deutsche Girozentrale's investment portfolio, making the stock its 16th largest holding. DekaBank Deutsche Girozentrale owned approximately 0.06% of Tesla worth $482,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Centennial Bank AR raised its holdings in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TSLA. Mizuho decreased their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, Roth Mkm cut their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $301.13.

Tesla Price Performance

Shares of TSLA stock traded up $13.99 during trading hours on Thursday, hitting $309.87. 102,311,159 shares of the company's stock were exchanged, compared to its average volume of 100,498,723. The firm has a 50 day moving average of $321.49 and a two-hundred day moving average of $323.10. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $998.08 billion, a P/E ratio of 170.26, a P/E/G ratio of 8.86 and a beta of 2.39.

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

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 in the last quarter. 20.70% of the stock is owned by insiders.

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.