Spectrum Asset Management Inc. NB CA Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Spectrum Asset Management Inc. NB CA trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,835 shares of the electric vehicle producer’s stock after selling 20 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Tesla were worth $1,247,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TSLA. ARK Investment Management LLC grew its stake in shares of Tesla by 39.9% in the 1st quarter. ARK Investment Management LLC now owns 5,785,523 shares of the electric vehicle producer’s stock worth $3,864,324,000 after buying an additional 1,651,297 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Tesla by 217.2% in the 1st quarter. Renaissance Technologies LLC now owns 827,381 shares of the electric vehicle producer’s stock worth $552,633,000 after buying an additional 566,506 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Tesla by 28.3% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,047,283 shares of the electric vehicle producer’s stock worth $1,398,601,000 after buying an additional 452,193 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in shares of Tesla in the 2nd quarter worth $232,871,000. Finally, Geode Capital Management LLC grew its stake in shares of Tesla by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 11,971,355 shares of the electric vehicle producer’s stock worth $7,973,095,000 after buying an additional 404,120 shares in the last quarter. 40.28% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on TSLA. Mizuho lifted their price objective on shares of Tesla from $820.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, July 27th. KGI Securities started coverage on shares of Tesla in a research note on Monday, August 2nd. They set an “outperform” rating and a $855.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $875.00 price target (up from $860.00) on shares of Tesla in a research note on Tuesday, July 27th. Sanford C. Bernstein lifted their price target on shares of Tesla from $180.00 to $300.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 17th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Tesla in a research note on Tuesday, July 27th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $602.16.

In other news, SVP Andrew D. Baglino sold 1,500 shares of the firm’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $671.64, for a total value of $1,007,460.00. Following the completion of the sale, the senior vice president now owns 19,567 shares of the company’s stock, valued at approximately $13,141,979.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 896 shares of Tesla stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $752.90, for a total value of $674,598.40. Following the sale, the senior vice president now directly owns 18,420 shares of the company’s stock, valued at approximately $13,868,418. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,402 shares of company stock valued at $63,982,010. Company insiders own 25.00% of the company’s stock.

Shares of NASDAQ:TSLA traded up $5.80 during trading hours on Tuesday, hitting $735.97. The company’s stock had a trading volume of 323,961 shares, compared to its average volume of 28,104,539. Tesla, Inc. has a 52 week low of $351.30 and a 52 week high of $900.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.22. The company has a market capitalization of $728.62 billion, a price-to-earnings ratio of 380.30, a P/E/G ratio of 6.20 and a beta of 1.95. The firm’s fifty day moving average price is $702.44 and its 200 day moving average price is $670.43.

Tesla (NASDAQ:TSLA) last posted its earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.93. Tesla had a net margin of 5.21% and a return on equity of 9.75%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.39 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 3.39 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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