Tesla, Inc. $TSLA Shares Sold by Bank Pictet & Cie Europe AG

Key Points

• Bank Pictet & Cie Europe AG reduced its Tesla holdings by 15.6%, selling 1,878 shares to end up with 10,176 shares valued at approximately $3.23 million.
• Other investors also adjusted their positions, with Means Investment CO. Inc. increasing its stake by 37.7% and Zuckerman Investment Group LLC boosting its position by 6.9% in the first quarter.
• Tesla reported a quarterly EPS of $0.40, missing estimates, and experienced an 11.8% decline in revenue year-over-year, totaling $22.50 billion.

Bank Pictet & Cie Europe AG trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,176 shares of the electric vehicle producer's stock after selling 1,878 shares during the period. Bank Pictet & Cie Europe AG's holdings in Tesla were worth $3,233,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Means Investment CO. Inc. lifted 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 purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the last quarter. Siren L.L.C. bought a new stake in shares of Tesla in the first quarter worth $2,332,000. Zuckerman Investment Group LLC increased its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after buying an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla in the first quarter worth $594,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $440.40 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 14.77 and a beta of 2.06. The firm has a 50-day moving average of $352.05 and a two-hundred day moving average of $314.42.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. China Renaissance restated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Mizuho lifted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group reiterated a "sell" rating on shares of Tesla in a research note on Monday, September 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $332.33.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by corporate insiders.

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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