Primecap Management Co. CA reduced its holdings in Tesla Inc (NASDAQ:TSLA) by 0.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 913,415 shares of the electric vehicle producer’s stock after selling 500 shares during the period. Primecap Management Co. CA’s holdings in Tesla were worth $255,628,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of TSLA. Mackey Komara & Dankovich LLC grew its stake in shares of Tesla by 493.3% during the first quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 74 shares during the period. Sontag Advisory LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Tesla in the first quarter valued at approximately $28,000. Financial Gravity Companies Inc. bought a new stake in Tesla during the fourth quarter worth $32,000. Finally, Legacy Advisors LLC bought a new position in shares of Tesla in the 1st quarter valued at $32,000. 55.69% of the stock is owned by institutional investors and hedge funds.
In related news, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $267.50, for a total transaction of $4,012,500.00. Following the completion of the transaction, the insider now owns 306,748 shares of the company’s stock, valued at $82,055,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $275.92, for a total value of $4,629,937.60. Following the transaction, the director now directly owns 8,728 shares of the company’s stock, valued at approximately $2,408,229.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,086 shares of company stock valued at $29,968,066. Company insiders own 22.80% of the company’s stock.
A number of analysts have weighed in on the company. BidaskClub downgraded Tesla from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. ValuEngine cut shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Royal Bank of Canada set a $245.00 price target on shares of Tesla and gave the stock a “sell” rating in a research note on Tuesday, February 26th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $230.00 price objective on shares of Tesla in a research note on Tuesday, February 26th. Finally, Canaccord Genuity set a $450.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Tuesday, February 26th. Seventeen equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Tesla currently has an average rating of “Hold” and an average target price of $292.12.
TSLA stock traded up $1.43 during trading on Friday, hitting $215.34. The stock had a trading volume of 72,444 shares, compared to its average volume of 13,891,987. Tesla Inc has a 1-year low of $176.99 and a 1-year high of $387.46. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of -37.59 and a beta of 0.49.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.51) by ($1.59). The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $5.18 billion. Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The firm’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period last year, the company posted ($3.35) EPS. As a group, research analysts predict that Tesla Inc will post -4.64 earnings per share for the current year.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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