Voleon Capital Management LP Has $14.58 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Voleon Capital Management LP reduced its stake in Tesla by 15.3%, now holding 56,255 shares worth approximately $14.57 million.
• Other institutional investors have varied actions towards Tesla, with Means Investment Co. boosting its stake by 37.7% while several others also increased their holdings during the first quarter.
• Tesla's stock has an average analyst rating of "Hold," with the current target price set at $303.31, while the company's recent earnings report showed a decline in revenue by 11.8% year-over-year.

Voleon Capital Management LP trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,255 shares of the electric vehicle producer's stock after selling 10,169 shares during the period. Tesla accounts for approximately 1.1% of Voleon Capital Management LP's holdings, making the stock its 12th biggest position. Voleon Capital Management LP's holdings in Tesla were worth $14,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. boosted 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 purchasing an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after purchasing an additional 158,697 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the period. Finally, Amundi boosted its stake in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,606 shares of company stock worth $49,581,812 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $0.82 during midday trading on Wednesday, reaching $347.79. The company's stock had a trading volume of 71,778,279 shares, compared to its average volume of 102,793,633. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $325.50 and a 200 day moving average price of $302.26. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 201.03, a price-to-earnings-growth ratio of 12.08 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Benchmark restated a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Wedbush restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $303.00.

Tesla Company 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.