Gilder Gagnon Howe & Co. LLC Sells 47,835 Shares of Tesla, Inc. $TSLA

Gilder Gagnon Howe & Co. LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 760,459 shares of the electric vehicle producer’s stock after selling 47,835 shares during the quarter. Tesla accounts for 2.6% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 9th largest position. Gilder Gagnon Howe & Co. LLC’s holdings in Tesla were worth $241,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Norges Bank acquired a new position in Tesla during the second quarter worth $11,839,824,000. Legal & General Group Plc boosted its position in Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Finally, Amundi increased its position in shares of Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after buying an additional 3,422,270 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Melius Research set a $520.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Stifel Nicolaus raised their price objective on shares of Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. DZ Bank reiterated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Cowen reissued a “buy” rating on shares of Tesla in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $399.33.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla 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 transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 119,457 shares of company stock valued at $52,137,945. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $458.96 on Friday. The business’s 50-day moving average price is $435.52 and its 200 day moving average price is $376.19. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a market capitalization of $1.53 trillion, a PE ratio of 305.97, a price-to-earnings-growth ratio of 15.09 and a beta of 1.87.

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

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.