Union Bancaire Privee UBP SA Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Union Bancaire Privee UBP SA cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,446 shares of the electric vehicle producer's stock after selling 1,685 shares during the period. Union Bancaire Privee UBP SA's holdings in Tesla were worth $1,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wealth Group Ltd. acquired a new position in Tesla during the 4th quarter worth approximately $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla during the 4th quarter worth approximately $1,361,000. Tallon Kerry Patrick acquired a new position in Tesla during the 4th quarter worth approximately $374,000. Eagle Capital Management LLC acquired a new position in Tesla during the 4th quarter worth approximately $331,000. Finally, Brighton Jones LLC increased its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 1.2%

Shares of Tesla stock traded up $3.82 during trading hours on Monday, reaching $329.13. 82,930,941 shares of the company's stock were exchanged, compared to its average volume of 100,768,414. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a fifty day moving average of $301.53 and a 200-day moving average of $332.77. Tesla, Inc. has a 52-week low of $177.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the business posted $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. JPMorgan Chase & Co. lowered their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Cantor Fitzgerald lowered their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $293.67.

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.