Tesla, Inc. $TSLA Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale has reduced its holdings in Tesla by 1.0%, now holding approximately 1,924,018 shares, representing 1.1% of its portfolio valued at around $618.6 million.
• Tesla's recent earnings report showed an EPS of $0.40, missing expectations of $0.43, with revenues declining 11.8% year-over-year.
• A variety of institutional investors have increased their positions in Tesla, with notable increases from firms such as Princeton Global Asset Management, which raised its holdings by 37.3%.

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,924,018 shares of the electric vehicle producer's stock after selling 18,703 shares during the period. Tesla accounts for 1.1% of DekaBank Deutsche Girozentrale's portfolio, making the stock its 12th biggest position. DekaBank Deutsche Girozentrale owned approximately 0.06% of Tesla worth $618,632,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Canvas Wealth Advisors LLC increased its holdings in shares of Tesla by 3.1% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 40,255 shares of the electric vehicle producer's stock worth $13,107,000 after acquiring an additional 1,217 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of Tesla by 37.3% in the 2nd quarter. Princeton Global Asset Management LLC now owns 829 shares of the electric vehicle producer's stock worth $263,000 after acquiring an additional 225 shares during the period. Schnieders Capital Management LLC increased its holdings in shares of Tesla by 94.2% in the 2nd quarter. Schnieders Capital Management LLC now owns 9,085 shares of the electric vehicle producer's stock worth $2,886,000 after acquiring an additional 4,406 shares during the period. ODonnell Financial Services LLC acquired a new stake in shares of Tesla in the 2nd quarter worth about $212,000. Finally, Alaska Wealth Advisors increased its holdings in shares of Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock worth $313,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $439.31 on Monday. 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 50-day moving average of $387.54 and a 200-day moving average of $334.06. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for 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 was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. Dbs Bank increased their price objective on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and raised their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Evercore ISI raised their target price on shares of Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a research note on Monday, October 13th. Finally, Mizuho raised their target price on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $363.54.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on 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 owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.