DekaBank Deutsche Girozentrale Sells 25,297 Shares of Tesla, Inc. (NASDAQ:TSLA)

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

Several other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $331,000. Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in shares of Tesla during the fourth quarter worth $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSLA. Glj Research reissued a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. The Goldman Sachs Group lowered their price target on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $300.19.

Tesla Stock Up 1.2%

TSLA traded up $3.64 during midday trading on Friday, hitting $313.51. 78,861,329 shares of the company's stock traded hands, compared to its average volume of 99,821,915. The company has a market cap of $1.01 trillion, a PE ratio of 172.26, a price-to-earnings-growth ratio of 9.22 and a beta of 2.39. The stock's fifty day simple moving average is $322.60 and its 200-day simple moving average is $321.24. 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, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla 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 owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

Tesla 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.