Tesla, Inc. $TSLA Shares Sold by Lingotto Investment Management LLP

Lingotto Investment Management LLP lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 50.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,961 shares of the electric vehicle producer’s stock after selling 45,000 shares during the quarter. Tesla makes up 0.3% of Lingotto Investment Management LLP’s investment portfolio, making the stock its 24th largest holding. Lingotto Investment Management LLP’s holdings in Tesla were worth $13,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares in the last quarter. Norges Bank purchased a new position in Tesla in the 2nd quarter valued at approximately $11,839,824,000. Legal & General Group Plc grew its stake in shares of Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after acquiring an additional 1,134,678 shares in the last quarter. Finally, Amundi increased its position in shares of Tesla by 20.4% during the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after acquiring an additional 3,422,270 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 1.7%

Shares of NASDAQ TSLA opened at $454.53 on Friday. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 303.02, a price-to-earnings-growth ratio of 15.09 and a beta of 1.87. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a 50-day moving average price of $434.64 and a 200 day moving average price of $371.63. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Evercore ISI lifted their price objective on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group cut their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. BNP Paribas Exane began coverage on shares of Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price target for the company. Finally, Melius Research set a $520.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $398.92.

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.