Tesla, Inc. $TSLA Shares Sold by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd cut its Tesla stake by 54.3% in the first quarter, selling 14,365 shares and ending with 12,106 shares valued at about $4.5 million.
• Insiders also sold shares: CFO Vaibhav Taneja and Director Kathleen Wilson-Thompson both reduced their holdings, with insiders selling a combined 57,824 shares worth about $21.7 million last quarter.
• Tesla shares were down 5.8% to $381.61, while the company recently beat EPS estimates but slightly missed revenue expectations; analysts currently rate the stock Hold on average with a consensus price target of $405.06.

Generate Investment Management Ltd lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 54.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,106 shares of the electric vehicle producer's stock after selling 14,365 shares during the period. Generate Investment Management Ltd's holdings in Tesla were worth $4,500,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer's stock worth $116,443,762,000 after buying an additional 6,538,720 shares in the last quarter. State Street Corp boosted its stake in shares of Tesla by 0.9% during the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer's stock worth $51,647,164,000 after acquiring an additional 1,080,085 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tesla by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer's stock valued at $29,426,070,000 after purchasing an additional 375,946 shares in the last quarter. Capital World Investors raised its holdings in Tesla by 5.8% in the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer's stock worth $19,583,547,000 after purchasing an additional 2,403,019 shares during the period. Finally, Norges Bank purchased a new position in Tesla during the fourth quarter worth approximately $17,128,100,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,824 shares of company stock valued at $21,657,588 over the last quarter. Company insiders own 19.90% of the company's stock.

Tesla Stock Down 5.8%

Shares of TSLA opened at $381.61 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. Tesla, Inc. has a one year low of $288.77 and a one year high of $498.83. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 350.10, a PEG ratio of 16.19 and a beta of 1.80. The stock has a 50 day moving average price of $405.18 and a 200 day moving average price of $414.53.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the firm posted $0.27 EPS. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Barclays restated a "neutral" rating on shares of Tesla in a research report on Wednesday, May 13th. Robert W. Baird dropped their price target on shares of Tesla from $538.00 to $522.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. Citigroup reissued a "neutral" rating on shares of Tesla in a report on Tuesday, June 16th. Erste Group Bank upgraded shares of Tesla from a "sell" rating to a "hold" rating in a research report on Friday, June 5th. Finally, Roth Mkm reaffirmed a "buy" rating on shares of Tesla in a report on Thursday, April 23rd. Twenty-one research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $405.06.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European registrations more than doubled in May, suggesting a rebound in demand in a major EV market. Tesla Auto Registrations in Europe Gain in May, Other Makers Mixed
• Positive Sentiment: Tesla and NatPower agreed to the first phase of a battery-storage partnership that could become a multi-billion-dollar project. NatPower, Tesla reach deal on first phase of $5 billion battery storage plan
• Positive Sentiment: Tesla’s “Megapod” trademark filing fueled speculation that it could expand further into AI infrastructure. Tesla Shares Surge After Megapod Trademark Filing
• Neutral Sentiment: Analysts are debating Tesla’s near-term delivery outlook ahead of Q2 results, with mixed expectations. Here’s What UBS and Baird Expect from Tesla’s Q2 Deliveries
• Negative Sentiment: U.S. regulators opened a new investigation into a fatal Texas crash involving a Tesla vehicle, renewing safety concerns around Autopilot/FSD. Finland may approve Tesla's supervised self-driving software before EU vote
• Negative Sentiment: Several articles argued Tesla’s rally is vulnerable because expectations for robotaxis, AI, and other future growth may be too optimistic relative to current fundamentals. Tesla: An Optimistic Or Unrealistic Forecast May Not Sustain Shares Forever

About Tesla

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.