Bessemer Group Inc. Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bessemer Group Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 56.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,384 shares of the electric vehicle producer’s stock after selling 51,306 shares during the quarter. Bessemer Group Inc.’s holdings in Tesla were worth $10,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Aurora Private Wealth Inc. grew its holdings in Tesla by 2,201.3% in the first quarter. Aurora Private Wealth Inc. now owns 50,858 shares of the electric vehicle producer’s stock worth $13,180,000 after purchasing an additional 48,648 shares during the last quarter. MOKAN Wealth Management Inc. lifted its stake in shares of Tesla by 5.9% during the first quarter. MOKAN Wealth Management Inc. now owns 1,636 shares of the electric vehicle producer’s stock worth $424,000 after buying an additional 91 shares during the period. Independent Solutions Wealth Management LLC lifted its position in Tesla by 6.1% during the first quarter. Independent Solutions Wealth Management LLC now owns 2,099 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 120 shares during the period. Spire Wealth Management lifted its position in Tesla by 3.6% during the first quarter. Spire Wealth Management now owns 31,552 shares of the electric vehicle producer’s stock valued at $8,177,000 after purchasing an additional 1,082 shares during the period. Finally, Saxony Capital Management LLC lifted its position in Tesla by 2.8% during the first quarter. Saxony Capital Management LLC now owns 4,304 shares of the electric vehicle producer’s stock valued at $1,115,000 after purchasing an additional 117 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 0.5%

Shares of NASDAQ:TSLA opened at $325.78 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $313.28 and its two-hundred day moving average is $331.01. The company has a market cap of $1.05 trillion, a PE ratio of 179.00, a P/E/G ratio of 12.25 and a beta of 2.47. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the business earned $0.45 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $24,274,300. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. HSBC decreased their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Canaccord Genuity Group cut their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. 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. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $298.37.

About Tesla

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.