Tesla, Inc. $TSLA Stake Lessened by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc reduced its stake in Tesla, Inc. by 3.3%, owning 229,731 shares valued at approximately $72.96 million as of the end of the last quarter.
• Goldman Sachs Group Inc. significantly increased its holdings in Tesla by 322.1%, acquiring over 20 million additional shares now worth $6.89 billion.
• Analysts have set an average target price of $363.03 for Tesla shares, with ratings varying from "Strong Buy" to "Sell" amidst recent market activity and earnings performance.

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,731 shares of the electric vehicle producer's stock after selling 7,934 shares during the period. Tesla makes up 0.9% of AEGON ASSET MANAGEMENT UK Plc's portfolio, making the stock its 25th biggest position. AEGON ASSET MANAGEMENT UK Plc's holdings in Tesla were worth $72,958,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TSLA. Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi raised its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Tesla in a report on Wednesday, October 8th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Morgan Stanley reiterated an "overweight" rating on shares of Tesla in a report on Wednesday. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Finally, Canaccord Genuity Group increased their price objective on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $363.03.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ TSLA opened at $435.15 on Thursday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock's 50-day moving average is $383.21 and its two-hundred day moving average is $330.90. 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 firm has a market cap of $1.45 trillion, a P/E ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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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