Temasek Holdings Private Ltd Cuts Stake in Tesla, Inc. $TSLA

Temasek Holdings Private Ltd lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 68.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,950 shares of the electric vehicle producer’s stock after selling 74,940 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Tesla were worth $11,102,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TSLA. Siren L.L.C. purchased a new position in shares of Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC increased its stake in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Tesla by 5.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after buying an additional 22,607 shares in the last quarter. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla in the 1st quarter valued at $594,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TSLA shares. Cowen reissued a “buy” rating on shares of Tesla in a research report on Monday, November 17th. Dbs Bank raised Tesla to a “hold” rating in a report on Wednesday, November 5th. Melius started coverage on Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. Evercore ISI boosted their price objective on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $399.33.

Tesla Price Performance

Tesla stock opened at $455.00 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The business has a 50 day simple moving average of $434.93 and a 200-day simple moving average of $372.88. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock has a market capitalization of $1.51 trillion, a PE ratio of 303.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. Tesla’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 19.90% of the company’s stock.

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.