Tesla, Inc. $TSLA Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.4% in the second quarter, HoldingsChannel reports. The fund owned 89,633 shares of the electric vehicle producer’s stock after selling 39,152 shares during the period. J. Safra Sarasin Holding AG’s holdings in Tesla were worth $28,478,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at $27,000. Newton One Investments LLC lifted its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the period. Finally, Chelsea Counsel Co. lifted its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 1.4%

NASDAQ:TSLA opened at $429.83 on Friday. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 15.15 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $364.02 and its 200 day moving average price is $321.39.

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 the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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 represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a report on Friday. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a report on Friday, September 26th. Morgan Stanley restated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $343.43.

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.