Tesla, Inc. $TSLA Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments reduced its stake in Tesla by 0.3% in Q2, now holding 1,657,645 shares valued at approximately $526.57 million.
• Goldman Sachs Group Inc. significantly increased its position in Tesla by 322.1%, acquiring over 20 million additional shares in the last quarter.
• Analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and an average price target of $343.43, while some firms upgraded their ratings to 'outperform'.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,657,645 shares of the electric vehicle producer's stock after selling 5,308 shares during the period. Tesla accounts for 1.8% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 9th largest position. Mirae Asset Global Investments Co. Ltd. owned 0.05% of Tesla worth $526,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Amundi increased its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Wedbush lifted their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. China Renaissance reissued a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $343.43.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $429.83 on Friday. The firm has a market cap of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. The firm's fifty day moving average is $364.02 and its 200-day moving average is $321.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

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

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction 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 transaction, the senior vice president 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. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. Company insiders own 19.90% of the company's stock.

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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