Tesla, Inc. $TSLA Stock Holdings Lessened by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the second quarter, Holdings Channel.com reports. The firm owned 10,176 shares of the electric vehicle producer’s stock after selling 1,878 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Tesla were worth $3,233,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% during the first 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. Nuveen LLC bought a new position in Tesla during the first quarter valued at approximately $3,247,619,000. GAMMA Investing LLC raised its position in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its position in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Finally, Amundi raised its position in Tesla by 29.4% during the first 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. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by company insiders.

Tesla Trading Up 4.0%

Shares of TSLA stock opened at $440.40 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm’s fifty day simple moving average is $352.05 and its 200 day simple moving average is $314.42. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a price-to-earnings-growth ratio of 14.77 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. CICC Research lifted their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Canaccord Genuity Group lifted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Wedbush lifted their price target on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $332.33.

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.