Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,718,411 shares of the electric vehicle producer's stock after selling 994,502 shares during the quarter. Tesla comprises 1.6% of Jennison Associates LLC's portfolio, making the stock its 17th largest position. Jennison Associates LLC owned approximately 0.27% of Tesla worth $2,259,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the fourth quarter worth $56,600,000. Means Investment CO. Inc. increased its position in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla during the fourth quarter valued at $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% 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 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA opened at $323.83 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. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 178.18, a P/E/G ratio of 9.80 and a beta of 2.39. The company's fifty day moving average is $325.64 and its two-hundred day moving average is $317.81.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates 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 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Glj Research reissued a "sell" rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Robert W. Baird restated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $300.19.

About Tesla

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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