Vontobel Holding Ltd. Sells 112,731 Shares of Tesla, Inc. (NASDAQ:TSLA)

Vontobel Holding Ltd. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 35.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 209,569 shares of the electric vehicle producer’s stock after selling 112,731 shares during the period. Vontobel Holding Ltd.’s holdings in Tesla were worth $54,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. grew its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new stake in Tesla in the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 5.3%

TSLA opened at $300.71 on Wednesday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company’s 50-day moving average price is $317.99 and its two-hundred day moving average price is $328.19. The stock has a market cap of $968.57 billion, a price-to-earnings ratio of 165.23, a PEG ratio of 12.06 and a beta of 2.40. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares of the company’s stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director directly owned 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 833,509 shares of company stock worth $278,648,925 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Canaccord Genuity Group restated a “buy” rating and set a $303.00 price objective on shares of Tesla in a report on Monday. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $298.37.

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About Tesla

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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