Tesla, Inc. $TSLA Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,633 shares of the electric vehicle producer's stock after selling 39,152 shares during the period. J. Safra Sarasin Holding AG's holdings in Tesla were worth $28,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lecap Asset Management Ltd. acquired a new position in shares of Tesla in the 2nd quarter valued at about $585,000. Kennebec Savings Bank raised its holdings in shares of Tesla by 1.9% during the 2nd quarter. Kennebec Savings Bank now owns 2,048 shares of the electric vehicle producer's stock valued at $651,000 after buying an additional 38 shares during the period. Sageworth Trust Co raised its holdings in shares of Tesla by 0.5% during the 2nd quarter. Sageworth Trust Co now owns 17,033 shares of the electric vehicle producer's stock valued at $5,411,000 after buying an additional 87 shares during the period. ASR Vermogensbeheer N.V. raised its holdings in shares of Tesla by 3.8% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 283,897 shares of the electric vehicle producer's stock valued at $90,180,000 after buying an additional 10,503 shares during the period. Finally, Wiser Wealth Management Inc raised its holdings in shares of Tesla by 12.8% during the 2nd quarter. Wiser Wealth Management Inc now owns 1,278 shares of the electric vehicle producer's stock valued at $406,000 after buying an additional 145 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business'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 transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSLA shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $355.00 target price on shares of Tesla in a report on Friday. Dbs Bank raised their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. CICC Research raised their target price on Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday, September 26th. Finally, Piper Sandler lifted their price objective on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $343.43.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $429.83 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 $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. The business has a 50 day simple moving average of $364.02 and a 200-day simple moving average of $321.39.

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 firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Tesla's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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