Amica Mutual Insurance Co. Sells 8,707 Shares of Tesla, Inc. (NASDAQ:TSLA)

Amica Mutual Insurance Co. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 28.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,834 shares of the electric vehicle producer’s stock after selling 8,707 shares during the period. Amica Mutual Insurance Co.’s holdings in Tesla were worth $4,321,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TSLA. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at approximately $7,844,757,000. Vanguard Group Inc. increased its position in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after acquiring an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in Tesla by 60.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock valued at $501,654,000 after purchasing an additional 1,072,366 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $7.11 on Monday, hitting $213.21. 59,164,801 shares of the company were exchanged, compared to its average volume of 98,373,750. The firm has a market capitalization of $681.13 billion, a P/E ratio of 54.16, a price-to-earnings-growth ratio of 5.46 and a beta of 2.31. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The stock’s 50 day moving average price is $219.46 and its 200 day moving average price is $192.17.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Tesla, Inc. will post 1.79 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on TSLA shares. Guggenheim restated a “sell” rating and set a $134.00 target price on shares of Tesla in a research report on Tuesday, July 23rd. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Monday, July 29th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $204.21.

Tesla 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.