Versor Investments LP Sells 305 Shares of Tesla, Inc. $TSLA

Versor Investments LP reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.7% in the 1st quarter, HoldingsChannel reports. The firm owned 795 shares of the electric vehicle producer’s stock after selling 305 shares during the period. Versor Investments LP’s holdings in Tesla were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 3,694,524 shares during the last quarter. Northern Trust Corp lifted its holdings in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 20,291,139 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock valued at $9,908,828,000 after purchasing an additional 158,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 purchasing an additional 849,091 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 6.2%

TSLA opened at $340.01 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. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 196.54, a price-to-earnings-growth ratio of 11.13 and a beta of 2.33. The firm has a 50 day simple moving average of $321.27 and a 200 day simple moving average of $303.60. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Morgan Stanley reiterated an “overweight” rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. HSBC reiterated a “reduce” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Finally, China Renaissance reiterated a “hold” rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $303.31.

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.