Tesla, Inc. $TSLA Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 489,874 shares of the electric vehicle producer's stock after selling 10,321 shares during the period. Tesla comprises about 1.7% of Gateway Investment Advisers LLC's holdings, making the stock its 11th largest holding. Gateway Investment Advisers LLC's holdings in Tesla were worth $155,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new stake in Tesla during the 1st quarter worth about $3,247,619,000. GAMMA Investing LLC lifted its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Amundi lifted its holdings in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $421.62 on Wednesday. The business's 50 day simple moving average is $333.69 and its 200-day simple moving average is $305.35. The firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 243.71, a price-to-earnings-growth ratio of 14.30 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the firm earned $0.52 EPS. Tesla's revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Wedbush restated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Monday. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, Robert W. Baird restated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $303.00.

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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