Tesla, Inc. (NASDAQ:TSLA) Stake Lessened by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,020 shares of the electric vehicle producer's stock after selling 57,933 shares during the period. Tesla makes up about 1.5% of Gulf International Bank UK Ltd's investment portfolio, making the stock its 8th biggest position. Gulf International Bank UK Ltd's holdings in Tesla were worth $43,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter valued at about $27,000. Finally, True Wealth Design LLC grew its holdings 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 period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 0.5%

TSLA opened at $340.84 on Wednesday. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 197.02, a P/E/G ratio of 11.79 and a beta of 2.33. The stock's 50 day moving average price is $318.54 and its 200-day moving average price is $306.48. Tesla, Inc. has a one year low of $197.06 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. HSBC reissued a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock worth $214,176,831 in the last ninety days. 20.70% of the stock is owned by company 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.

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