Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG sold 2,352 shares of Tesla, reducing its holdings by 9.4% to a total of 22,716 shares worth approximately $5.96 million.
• A mix of other institutional investors showed varied activity, with FMR LLC boosting its holdings by 40.1% and GAMMA Investing LLC increasing theirs by an astounding 27,378.6% in the first quarter.
• Analysts have set new price targets for Tesla, with a range from $115.00 by JPMorgan Chase to a high of $450.00 by Stifel Nicolaus, indicating mixed sentiments on the stock.

Raiffeisen Bank International AG trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,716 shares of the electric vehicle producer's stock after selling 2,352 shares during the quarter. Raiffeisen Bank International AG's holdings in Tesla were worth $5,963,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TSLA. Once Capital Management LLC increased its position in shares of Tesla by 275.0% during the first quarter. Once Capital Management LLC now owns 7,500 shares of the electric vehicle producer's stock worth $1,944,000 after purchasing an additional 5,500 shares in the last quarter. Fairfield Financial Advisors LTD grew its holdings in shares of Tesla by 9.7% during the first quarter. Fairfield Financial Advisors LTD now owns 1,260 shares of the electric vehicle producer's stock valued at $327,000 after buying an additional 111 shares during the last quarter. Heritage Trust Co grew its holdings in shares of Tesla by 8.8% during the first quarter. Heritage Trust Co now owns 1,231 shares of the electric vehicle producer's stock valued at $319,000 after buying an additional 100 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in Tesla by 15.4% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 12,300 shares of the electric vehicle producer's stock valued at $3,188,000 after purchasing an additional 1,646 shares during the period. Finally, Generation Capital Management LLC acquired a new position in Tesla during the first quarter valued at $487,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Finally, Wedbush restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday. Ten research analysts have rated the stock with a sell rating, fifteen have given 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, the company presently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Performance

TSLA stock traded down $1.38 during trading on Tuesday, hitting $307.88. 22,769,085 shares of the company's stock traded hands, compared to its average volume of 107,105,594. The stock has a fifty day moving average price of $321.62 and a two-hundred day moving average price of $309.49. The stock has a market capitalization of $993.05 billion, a price-to-earnings ratio of 177.78, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $191.48 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 606,724 shares of company stock worth $215,376,831 over the last ninety days. 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.