Candriam S.C.A. Lowers Position in Tesla, Inc. $TSLA

Candriam S.C.A. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 51.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,894 shares of the electric vehicle producer’s stock after selling 267,095 shares during the period. Candriam S.C.A.’s holdings in Tesla were worth $79,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.0% during the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Finally, Amundi grew its stake in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSLA shares. Barclays reissued a “negative” rating and issued a $350.00 target price (up from $275.00) on shares of Tesla in a report on Thursday, October 16th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. CICC Research upped their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and ten have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $391.08.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $430.60 on Thursday. The firm’s 50-day moving average price is $427.33 and its 200-day moving average price is $359.18. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a market cap of $1.43 trillion, a PE ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. 19.90% of the stock is currently owned by insiders.

Tesla 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.