Tesla, Inc. $TSLA Stock Position Reduced by Lbp Am Sa

Key Points

• Lbp Am Sa reduced its stake in Tesla, Inc. by 5.8%, selling 9,921 shares, resulting in holdings worth approximately $51.27 million.
• Other notable institutional investors, including Goldman Sachs and Vanguard Group, have increased their positions significantly, indicating continued strong institutional interest in Tesla.
• Tesla missed expectations with earnings of $0.40 per share for the last quarter, falling short of the anticipated $0.43, while quarterly revenue also decreased by 11.8% year-over-year.

Lbp Am Sa cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,398 shares of the electric vehicle producer's stock after selling 9,921 shares during the period. Lbp Am Sa's holdings in Tesla were worth $51,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in 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 acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted 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 lifted 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. lifted 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 owned by hedge funds and other institutional investors.

Tesla Trading Up 3.3%

Shares of Tesla stock opened at $459.46 on Thursday. The business has a fifty day simple moving average of $359.13 and a two-hundred day simple moving average of $318.62. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 265.58, a P/E/G ratio of 15.46 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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 analysts' consensus estimates of $0.43 by ($0.03). The firm 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%.The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. The Goldman Sachs Group lifted their target price on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. CICC Research upped their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Finally, Canaccord Genuity Group raised their target price on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $337.15.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last ninety days. Insiders own 19.90% of the company's stock.

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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