Tesla, Inc. $TSLA Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.9% in the second quarter, Holdings Channel reports. The firm owned 963,573 shares of the electric vehicle producer’s stock after selling 50,073 shares during the quarter. Tesla accounts for 6.0% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 3rd biggest holding. Zevenbergen Capital Investments LLC’s holdings in Tesla were worth $306,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Means Investment CO. Inc. boosted its stake in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. raised its position in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares during the last quarter. Siren L.L.C. purchased a new position in Tesla during the 1st quarter worth $2,332,000. Zuckerman Investment Group LLC raised its position in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC purchased a new position in Tesla during the 1st quarter worth $594,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Finally, Royal Bank Of Canada reiterated an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $303.00.

Tesla Stock Performance

NASDAQ:TSLA opened at $395.94 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $328.89 and a two-hundred day moving average price of $303.57. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a market capitalization of $1.28 trillion, a P/E ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the business posted $0.52 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company 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.