Jupiter Asset Management Ltd. Sells 75,925 Shares of Tesla, Inc. (NASDAQ:TSLA)

Jupiter Asset Management Ltd. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 49.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 76,144 shares of the electric vehicle producer’s stock after selling 75,925 shares during the period. Jupiter Asset Management Ltd.’s holdings in Tesla were worth $13,385,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Apexium Financial LP increased its holdings in Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP increased its holdings in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. The Goldman Sachs Group increased their price target on Tesla from $175.00 to $248.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, July 16th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a report on Thursday, July 11th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $203.03.

Tesla Stock Performance

Shares of Tesla stock traded down $10.03 during mid-day trading on Friday, hitting $239.20. 87,403,903 shares of the stock were exchanged, compared to its average volume of 121,911,872. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $280.93. The company has a 50-day simple moving average of $200.12 and a 200 day simple moving average of $191.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $762.86 billion, a P/E ratio of 61.02, a P/E/G ratio of 5.97 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Sell-side analysts anticipate that Tesla, Inc. will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.