Carmignac Gestion Trims Stock Holdings in Tesla, Inc. $TSLA

Carmignac Gestion reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 33.3% during the first quarter, HoldingsChannel reports. The fund owned 1,000 shares of the electric vehicle producer’s stock after selling 500 shares during the period. Carmignac Gestion’s holdings in Tesla were worth $259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TSLA. Eagle Capital Management LLC purchased a new stake in shares of Tesla in the fourth quarter worth $331,000. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in shares of Tesla in the fourth quarter worth $2,367,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 1.7%

TSLA stock opened at $329.31 on Wednesday. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54. The business’s 50-day moving average is $321.01 and its two-hundred day moving average is $304.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the 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 transaction, the chief financial officer owned 1,950 shares of the company’s stock, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 in the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSLA. Robert W. Baird reissued a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. William Blair downgraded Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Royal Bank Of Canada reaffirmed an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. Finally, Raymond James Financial downgraded Tesla to an “outperform” rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $303.31.

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.