Tesla, Inc. $TSLA Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Tesla by 19.0%, holding approximately 23.15 million shares after selling over 5.4 million during the first quarter.
• Several other investors, including Cherry Tree Wealth Management LLC and First PREMIER Bank, significantly increased their positions in Tesla, with Cherry Tree boosting its stake by 86.3%.
• Analyst ratings for Tesla show a mixed consensus, with a target price ranging from $115 to $341 and a current consensus rating of "Hold".

Price T Rowe Associates Inc. MD cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,154,134 shares of the electric vehicle producer's stock after selling 5,416,473 shares during the quarter. Tesla accounts for about 0.7% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 19th largest holding. Price T Rowe Associates Inc. MD owned about 0.72% of Tesla worth $6,000,626,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC raised its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TSLA shares. Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Sunday. Finally, JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Performance

NASDAQ TSLA opened at $323.90 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock's 50 day simple moving average is $320.96 and its 200-day simple moving average is $304.40. The company has a market cap of $1.04 trillion, a PE ratio of 187.23, a price-to-earnings-growth ratio of 11.45 and a beta of 2.33. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% 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 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 599,724 shares of company stock valued at $213,126,501. Corporate insiders own 20.70% of the company's stock.

Tesla 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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