Vanguard Group Inc. Has $1.72 Billion Stock Position in Tesla Inc (NASDAQ:TSLA)

Vanguard Group Inc. cut its stake in Tesla Inc (NASDAQ:TSLA) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,691,964 shares of the electric vehicle producer’s stock after selling 10,808 shares during the period. Vanguard Group Inc. owned about 4.29% of Tesla worth $1,718,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in Tesla by 1.2% during the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock worth $2,996,539,000 after acquiring an additional 165,206 shares in the last quarter. ARK Investment Management LLC increased its holdings in Tesla by 54.3% in the second quarter. ARK Investment Management LLC now owns 1,163,182 shares of the electric vehicle producer’s stock valued at $259,925,000 after purchasing an additional 409,332 shares during the period. Northern Trust Corp boosted its position in Tesla by 0.5% during the second quarter. Northern Trust Corp now owns 928,974 shares of the electric vehicle producer’s stock valued at $207,588,000 after acquiring an additional 4,913 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Tesla by 1,892.8% during the 2nd quarter. SG Americas Securities LLC now owns 736,962 shares of the electric vehicle producer’s stock worth $164,682,000 after purchasing an additional 699,981 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tesla by 6.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 715,153 shares of the electric vehicle producer’s stock worth $159,808,000 after acquiring an additional 42,346 shares during the last quarter. 54.42% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TSLA traded down $5.98 on Friday, reaching $240.62. 6,079,913 shares of the company’s stock were exchanged, compared to its average volume of 5,629,659. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $43.62 billion, a price-to-earnings ratio of -42.07 and a beta of 0.54. The business has a fifty day moving average of $229.22 and a 200-day moving average of $239.52. Tesla Inc has a 52-week low of $176.99 and a 52-week high of $379.49.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The firm’s revenue for the quarter was up 58.7% on a year-over-year basis. During the same quarter last year, the company earned ($3.06) earnings per share. As a group, equities analysts anticipate that Tesla Inc will post -7.51 earnings per share for the current year.

In other news, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.51, for a total value of $3,352,650.00. Following the completion of the sale, the insider now directly owns 306,098 shares of the company’s stock, valued at $68,415,963.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $242.47, for a total value of $36,370.50. Following the completion of the sale, the chief financial officer now directly owns 10,001 shares of the company’s stock, valued at $2,424,942.47. The disclosure for this sale can be found here. Insiders have sold 30,450 shares of company stock worth $6,917,723 over the last quarter. Insiders own 24.40% of the company’s stock.

Several equities research analysts have recently issued reports on TSLA shares. Berenberg Bank restated a “buy” rating on shares of Tesla in a research note on Friday, June 14th. Wedbush reiterated a “hold” rating and issued a $230.00 target price on shares of Tesla in a research report on Thursday, July 25th. Nord/LB reaffirmed a “sell” rating and set a $200.00 target price on shares of Tesla in a research note on Thursday, July 25th. Nomura set a $270.00 target price on shares of Tesla and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $396.00 price objective on shares of Tesla in a research note on Friday, June 7th. Eighteen research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $269.53.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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