Plato Investment Management Ltd Has $15.87 Million Holdings in Tesla, Inc. $TSLA

Plato Investment Management Ltd lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the 1st quarter, Holdings Channel reports. The firm owned 60,586 shares of the electric vehicle producer’s stock after selling 2,601 shares during the quarter. Tesla accounts for approximately 1.3% of Plato Investment Management Ltd’s portfolio, making the stock its 8th biggest position. Plato Investment Management Ltd’s holdings in Tesla were worth $15,872,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Pacific Center for Financial Services raised its stake in shares of Tesla by 1,616.7% during the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock valued at $42,000 after acquiring an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Finally, Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Wedbush reaffirmed an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Price Performance

NASDAQ TSLA opened at $346.97 on Wednesday. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 200.56, a P/E/G ratio of 12.08 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, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm’s fifty day simple moving average is $325.50 and its two-hundred day simple moving average is $302.26.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,606 shares of company stock worth $49,581,812. Company insiders own 20.70% of the company’s stock.

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.