Tesla, Inc. $TSLA Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,155,908 shares of the electric vehicle producer’s stock after selling 111,945 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Tesla were worth $367,181,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TSLA. Vanguard Group Inc. grew its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi grew its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last quarter. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating on shares of Tesla in a research report on Thursday. Truist Financial upped their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday. BNP Paribas Exane assumed coverage on Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research report on Thursday. Finally, Piper Sandler upped their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $381.00.

Tesla Trading Down 3.4%

NASDAQ:TSLA opened at $433.72 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The business’s 50-day simple moving average is $398.06 and its 200 day simple moving average is $341.21. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.