Union Bancaire Privee UBP SA Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Union Bancaire Privee UBP SA decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,446 shares of the electric vehicle producer’s stock after selling 1,685 shares during the quarter. 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 have also recently made changes to their positions in the stock. Vista Finance LLC raised its holdings in Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. Jmac Enterprises LLC raised its stake in Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after purchasing an additional 26 shares during the period. TFB Advisors LLC lifted its holdings in Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after purchasing an additional 27 shares in the last quarter. Vista Capital Partners Inc. boosted its stake in Tesla by 1.4% in the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after purchasing an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC boosted its stake in Tesla by 1.3% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after purchasing an additional 27 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $319.11 on Friday. The company has a market capitalization of $1.03 trillion, a P/E ratio of 156.43, a P/E/G ratio of 5.86 and a beta of 2.47. The company’s 50-day simple moving average is $297.32 and its two-hundred day simple moving average is $332.97. Tesla, Inc. has a one year low of $176.92 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 the consensus estimate 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 company earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. HSBC lowered their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday. Wedbush set a $500.00 price target on Tesla in a research note on Thursday, June 5th. Finally, Barclays cut their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $293.67.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer now directly owns 5,924 shares of the company’s stock, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $24,274,300. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by corporate insiders.

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.