Pictet Asset Management Ltd. lowered its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 12.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 263,562 shares of the electric vehicle producer’s stock after selling 38,966 shares during the period. Pictet Asset Management Ltd.’s holdings in Tesla were worth $58,896,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in shares of Tesla by 1.2% during the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock valued at $2,996,539,000 after purchasing an additional 165,206 shares during the last quarter. Private Ocean LLC increased its position in Tesla by 1,413.3% during the 1st quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock valued at $64,000 after buying an additional 212 shares in the last quarter. Fort Point Capital Partners LLC raised its stake in Tesla by 8.1% during the first quarter. Fort Point Capital Partners LLC now owns 1,660 shares of the electric vehicle producer’s stock valued at $465,000 after buying an additional 124 shares during the last quarter. Noven Financial Group Inc. purchased a new position in Tesla during the first quarter valued at $245,000. Finally, Northern Trust Corp raised its stake in Tesla by 1.0% during the first quarter. Northern Trust Corp now owns 924,061 shares of the electric vehicle producer’s stock valued at $258,608,000 after buying an additional 9,430 shares during the last quarter. Institutional investors and hedge funds own 54.44% of the company’s stock.

In related news, CFO Zachary Kirkhorn sold 150 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the completion of the sale, the chief financial officer now directly owns 9,962 shares in the company, valued at $2,547,084.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.51, for a total transaction of $3,352,650.00. Following the sale, the insider now directly owns 306,098 shares of the company’s stock, valued at $68,415,963.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,300 shares of company stock valued at $6,881,352. 24.40% of the stock is owned by company insiders.

TSLA traded up $11.18 during mid-day trading on Wednesday, reaching $246.72. 937,929 shares of the company traded hands, compared to its average volume of 5,801,114. The stock has a market capitalization of $41.52 billion, a P/E ratio of -43.18 and a beta of 0.54. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71. The company’s fifty day moving average price is $228.18 and its 200-day moving average price is $242.03. Tesla Inc has a 52-week low of $176.99 and a 52-week high of $379.49.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business earned ($3.06) earnings per share. The business’s quarterly revenue was up 58.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

TSLA has been the topic of a number of recent research reports. Barclays reissued an “underweight” rating and issued a $150.00 target price on shares of Tesla in a research note on Thursday, July 25th. ValuEngine raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on shares of Tesla to $230.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Cfra downgraded shares of Tesla to a “sell” rating and set a $135.00 price objective on the stock. in a research report on Friday, July 26th. Finally, Wedbush reissued a “hold” rating and set a $230.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Eighteen equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $269.53.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Further Reading: What is a capital gain?

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla Inc (NASDAQ:TSLA).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.