Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by Swiss National Bank

Swiss National Bank cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,122,375 shares of the electric vehicle producer’s stock after selling 397,300 shares during the quarter. Tesla accounts for about 2.2% of Swiss National Bank’s investment portfolio, making the stock its 6th largest holding. Swiss National Bank’s holdings in Tesla were worth $3,280,140,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Tesla by 49.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,776 shares of the electric vehicle producer’s stock worth $64,120,000 after purchasing an additional 52,273 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Tesla by 50.0% during the 4th quarter. Rakuten Securities Inc. now owns 106,388 shares of the electric vehicle producer’s stock worth $42,964,000 after acquiring an additional 35,470 shares in the last quarter. Essential Planning LLC. purchased a new position in Tesla during the 4th quarter valued at about $530,000. Jupiter Asset Management Ltd. grew its position in Tesla by 148.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 198,325 shares of the electric vehicle producer’s stock valued at $80,092,000 after acquiring an additional 118,484 shares in the last quarter. Finally, Liberty Wealth Management LLC increased its stake in Tesla by 41.2% during the fourth quarter. Liberty Wealth Management LLC now owns 25,249 shares of the electric vehicle producer’s stock worth $10,197,000 after purchasing an additional 7,371 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 7.6 %

Shares of Tesla stock opened at $248.09 on Thursday. The company’s fifty day moving average is $357.29 and its two-hundred day moving average is $319.03. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $797.99 billion, a P/E ratio of 121.61, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last 90 days. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Morgan Stanley reissued a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a research note on Monday, March 3rd. Glj Research reissued a “buy” rating on shares of Tesla in a research report on Tuesday. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Robert W. Baird decreased their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Jefferies Financial Group upped their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $325.81.

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.