Primecap Management Co. CA Sells 61,690 Shares of Tesla, Inc. (NASDAQ:TSLA)

Primecap Management Co. CA decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,075,585 shares of the electric vehicle producer's stock after selling 61,690 shares during the period. Tesla makes up 1.8% of Primecap Management Co. CA's holdings, making the stock its 13th biggest position. Primecap Management Co. CA owned 0.28% of Tesla worth $2,255,101,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC lifted its stake in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock worth $34,000 after acquiring an additional 91 shares during the period. Kathleen S. Wright Associates Inc. lifted its stake in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer's stock worth $47,000 after acquiring an additional 100 shares during the period. Finally, Advisors Preferred LLC acquired a new position in shares of Tesla in the third quarter worth approximately $60,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 3.2 %

NASDAQ:TSLA traded up $5.50 on Friday, hitting $179.24. The stock had a trading volume of 65,480,088 shares, compared to its average volume of 100,536,992. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm's fifty day simple moving average is $171.69 and its two-hundred day simple moving average is $201.27. The stock has a market cap of $571.63 billion, a P/E ratio of 45.72, a price-to-earnings-growth ratio of 4.42 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Analysts predict that Tesla, Inc. will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company's stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company's stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold a total of 209,097 shares of company stock worth $37,877,471 over the last 90 days. Corporate insiders own 25.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. KGI Securities reiterated a "neutral" rating and set a $213.00 price objective (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Barclays lowered their price objective on Tesla from $225.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 17th. Oppenheimer restated a "market perform" rating on shares of Tesla in a research report on Wednesday, April 24th. Robert W. Baird reiterated an "outperform" rating and issued a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Finally, Morgan Stanley reduced their price objective on shares of Tesla from $320.00 to $310.00 and set an "overweight" rating for the company in a research report on Thursday, April 4th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $185.90.

Tesla 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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