Gilder Gagnon Howe & Co. LLC Sells 47,835 Shares of Tesla, Inc. $TSLA

Gilder Gagnon Howe & Co. LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 760,459 shares of the electric vehicle producer’s stock after selling 47,835 shares during the period. Tesla accounts for about 2.6% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 9th biggest holding. Gilder Gagnon Howe & Co. LLC’s holdings in Tesla were worth $241,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tesla in the second quarter valued at about $11,839,824,000. Kingstone Capital Partners Texas LLC boosted its holdings in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Vanguard Group Inc. grew its position in 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 acquiring an additional 4,502,976 shares in the last quarter. Amundi raised its stake in shares of 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 purchasing an additional 3,814,610 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Tesla during the first quarter worth $469,339,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 2.7%

NASDAQ:TSLA opened at $458.96 on Friday. The company has a market cap of $1.53 trillion, a PE ratio of 305.97, a P/E/G ratio of 15.09 and a beta of 1.87. The business’s 50 day moving average is $435.52 and its two-hundred day moving average is $376.19. 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, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $24.98 billion. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TSLA shares. Canaccord Genuity Group dropped their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Friday, November 7th. Evercore ISI raised 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. Finally, Truist Financial upped their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $399.33.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. This represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 119,457 shares of company stock valued at $52,137,945. Company insiders own 19.90% of the company’s stock.

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.