Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Total Investment Management Inc.

Total Investment Management Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 42.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,385 shares of the electric vehicle producer’s stock after selling 1,794 shares during the quarter. Total Investment Management Inc.’s holdings in Tesla were worth $419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Norges Bank purchased a new position in Tesla during the 4th quarter worth $7,844,757,000. International Assets Investment Management LLC increased its position in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after buying an additional 1,402,443 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.2 %

Shares of NASDAQ:TSLA traded up $0.46 during mid-day trading on Friday, hitting $197.88. 95,438,068 shares of the company traded hands, compared to its average volume of 68,945,696. The firm has a market cap of $631.08 billion, a P/E ratio of 50.48, a PEG ratio of 4.90 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The firm’s 50 day simple moving average is $177.80 and its 200 day simple moving average is $192.03.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities analysts anticipate that Tesla, Inc. will post 1.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TSLA shares. HSBC reduced their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday, April 24th. Barclays decreased their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Truist Financial reduced their price target on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Finally, Royal Bank of Canada reduced their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $187.30.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is currently owned by corporate insiders.

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.