Tesla, Inc. $TSLA Stake Lowered by S Bank Fund Management Ltd

S Bank Fund Management Ltd reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 44,209 shares of the electric vehicle producer’s stock after selling 9,545 shares during the period. Tesla accounts for 2.1% of S Bank Fund Management Ltd’s holdings, making the stock its 9th biggest position. S Bank Fund Management Ltd’s holdings in Tesla were worth $14,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi grew its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 1.5%

TSLA stock opened at $428.75 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a 50-day moving average of $385.34 and a two-hundred day moving average of $332.07. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 247.83, a price-to-earnings-growth ratio of 15.64 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Wedbush upped their price objective on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. BNP Paribas Exane started coverage on shares of Tesla in a report on Thursday. They issued an “underperform” rating and a $307.00 price objective for the company. Finally, Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $363.54.

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.