BI Asset Management Fondsmaeglerselskab A S Sells 102,432 Shares of Tesla, Inc. $TSLA

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 43.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,647 shares of the electric vehicle producer’s stock after selling 102,432 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Tesla were worth $34,118,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TSLA. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla in the first quarter valued at approximately $3,247,619,000. GAMMA Investing LLC lifted its stake in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Northern Trust Corp lifted its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $303.31.

Tesla Stock Up 1.4%

Shares of NASDAQ:TSLA opened at $335.16 on Tuesday. The stock’s 50-day moving average price is $320.95 and its 200-day moving average price is $304.09. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The stock has a market capitalization of $1.08 trillion, a P/E ratio of 193.73, a price-to-earnings-growth ratio of 11.49 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock valued at $213,126,501 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.