Zevenbergen Capital Investments LLC Sells 50,073 Shares of Tesla, Inc. $TSLA

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in Tesla by 4.9%, selling 50,073 shares during the 2nd quarter, with Tesla now making up 6.0% of its investment portfolio.
• Insider selling activity includes director James R. Murdoch selling 120,000 shares at an average price of $350.29, resulting in a total transaction value of approximately $42 million.
• Tesla's shares closed at $395.94, with analysts forecasting an earnings per share of 2.56 for the current fiscal year, while the stock has a market cap of $1.28 trillion.

Zevenbergen Capital Investments LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 963,573 shares of the electric vehicle producer's stock after selling 50,073 shares during the quarter. Tesla comprises 6.0% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 3rd biggest position. Zevenbergen Capital Investments LLC's holdings in Tesla were worth $306,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,606 shares of company stock worth $51,999,662. Corporate insiders own 20.70% of the company's stock.

Tesla Trading Up 7.4%

Shares of NASDAQ:TSLA opened at $395.94 on Friday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company's 50 day moving average is $328.89 and its two-hundred day moving average is $303.57. 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 market cap of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. HSBC reissued a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.

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