Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 39.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,054 shares of the electric vehicle producer’s stock after selling 7,803 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Tesla were worth $3,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the 4th quarter worth $56,600,000. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after acquiring an additional 670 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in Tesla in the 4th quarter worth $8,158,000. Finally, Vontobel Holding Ltd. increased its holdings in Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after acquiring an additional 60,342 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 1.9%

Shares of TSLA opened at $325.31 on Monday. The stock has a market capitalization of $1.05 trillion, a PE ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s 50-day simple moving average is $299.39 and its 200-day simple moving average is $332.88.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 over the last three months. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Royal Bank of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Glj Research reaffirmed a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $293.67.

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.