Tredje AP fonden Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Tredje AP fonden reduced its stake in Tesla, Inc. by 32.7% during the first quarter, ending with approximately 99,773 shares worth about $25.86 million.
• Tesla reported $0.40 earnings per share for the last quarter, missing expectations, with revenue down 11.8% year-over-year at $22.50 billion.
• The stock currently holds a consensus rating of "Hold" from analysts, with an average price target of approximately $303.31.

Tredje AP fonden reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,773 shares of the electric vehicle producer's stock after selling 48,500 shares during the period. Tredje AP fonden's holdings in Tesla were worth $25,857,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rinkey Investments grew its holdings in shares of Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC lifted its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Aldebaran Financial Inc. grew its stake in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after buying an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC increased its holdings in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after buying an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc raised its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after buying an additional 38 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA stock traded down $2.16 during midday trading on Wednesday, hitting $319.04. 83,592,884 shares of the stock traded hands, compared to its average volume of 92,156,024. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock's fifty day simple moving average is $323.61 and its 200-day simple moving average is $313.14. The firm has a market cap of $1.03 trillion, a P/E ratio of 184.42, a PEG ratio of 11.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's 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 completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 723,119 shares of company stock valued at $247,324,149 in the last three months. Company insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. China Renaissance reiterated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday. Wedbush reiterated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Tuesday, July 22nd. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

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.