Tesla, Inc. (NASDAQ:TSLA) Stake Cut by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,832 shares of the electric vehicle producer’s stock after selling 2,660 shares during the period. Tesla makes up about 4.1% of China Universal Asset Management Co. Ltd.’s portfolio, making the stock its 5th biggest holding. China Universal Asset Management Co. Ltd.’s holdings in Tesla were worth $11,673,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Tesla in the 4th quarter worth approximately $7,918,804,000. Banque Pictet & Cie SA raised its holdings in shares of Tesla by 38,084.4% in the fourth quarter. Banque Pictet & Cie SA now owns 1,494,920 shares of the electric vehicle producer’s stock worth $1,579,802,000 after buying an additional 1,491,005 shares during the last quarter. Clear Street LLC acquired a new stake in shares of Tesla during the fourth quarter worth $1,447,578,000. State Street Corp grew its holdings in shares of Tesla by 4.0% during the fourth quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock valued at $34,309,124,000 after buying an additional 1,235,579 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Tesla by 3,344.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 616,255 shares of the electric vehicle producer’s stock valued at $659,544,000 after acquiring an additional 598,366 shares during the period. 40.64% of the stock is owned by hedge funds and other institutional investors.

In other Tesla news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $748.11, for a total value of $2,618,385.00. Following the completion of the sale, the senior vice president now directly owns 20,567 shares in the company, valued at approximately $15,386,378.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Elon Musk sold 345,601 shares of the firm’s stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $898.00, for a total value of $310,349,698.00. Following the completion of the sale, the chief executive officer now directly owns 168,193,251 shares of the company’s stock, valued at $151,037,539,398. The disclosure for this sale can be found here. Insiders sold 415,369 shares of company stock valued at $366,718,672 over the last quarter. Company insiders own 25.10% of the company’s stock.

A number of research analysts have recently weighed in on TSLA shares. Mizuho cut their price objective on Tesla from $1,300.00 to $1,150.00 and set a “buy” rating on the stock in a report on Monday, June 27th. Cowen raised their price target on shares of Tesla from $660.00 to $790.00 and gave the stock a “market perform” rating in a research report on Monday, April 4th. TheStreet raised shares of Tesla from a “c+” rating to a “b-” rating in a report on Wednesday, April 27th. Tudor Pickering upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, UBS Group upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 target price for the company in a research report on Thursday, June 9th. Eight equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $883.65.

NASDAQ TSLA opened at $699.20 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.35 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $738.50 and its 200-day simple moving average is $883.57. The company has a market cap of $724.64 billion, a PE ratio of 94.87, a price-to-earnings-growth ratio of 2.23 and a beta of 2.11. Tesla, Inc. has a 1-year low of $620.46 and a 1-year high of $1,243.49.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $1.22. Tesla had a return on equity of 28.11% and a net margin of 13.51%. The company had revenue of $18.76 billion for the quarter, compared to analyst estimates of $17.84 billion. During the same quarter last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up 80.5% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 10.17 EPS for the current fiscal year.

Tesla Company Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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