Tesla, Inc. $TSLA Shares Sold by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong Co Ltd has reduced its stake in Tesla, Inc. by 20.9%, holding 138,900 shares valued at approximately $36 million as of the end of the last quarter.
• Goldman Sachs significantly increased its position in Tesla by 322.1%, now owning over 26 million shares, valued at nearly $6.9 billion.
• Tesla reported an EPS of $0.40 for the last quarter, falling short of analysts' expectations of $0.43, while its revenue was down 11.8% year-over-year.

Taikang Asset Management Hong Kong Co Ltd reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,900 shares of the electric vehicle producer's stock after selling 36,668 shares during the quarter. Tesla accounts for 4.9% of Taikang Asset Management Hong Kong Co Ltd's investment portfolio, making the stock its 3rd biggest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Tesla were worth $35,997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its stake 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 valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Tesla during the first quarter worth approximately $3,247,619,000. GAMMA Investing LLC grew its position in Tesla by 27,378.6% during the first 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 in the last quarter. Northern Trust Corp increased its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% during 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 buying an additional 3,694,524 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ:TSLA opened at $340.01 on Monday. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.82 and a beta of 2.33. The company has a 50-day moving average of $321.27 and a 200-day moving average of $302.58. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. 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 (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 analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% 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, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director 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 disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock worth $213,126,501 in the last quarter. Corporate insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLA. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Finally, China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $303.31.

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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