Bank Pictet & Cie Europe AG Sells 21,524 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bank Pictet & Cie Europe AG trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 52.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,857 shares of the electric vehicle producer’s stock after selling 21,524 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Tesla were worth $8,019,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Swedbank AB lifted its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. New Century Financial Group LLC bought a new position in shares of Tesla in the third quarter valued at approximately $329,000. Vest Financial LLC lifted its stake in shares of Tesla by 202.1% in the third quarter. Vest Financial LLC now owns 10,286 shares of the electric vehicle producer’s stock worth $2,691,000 after buying an additional 6,881 shares during the last quarter. ACT Advisors LLC. bought a new stake in shares of Tesla during the 3rd quarter worth $255,000. Finally, Calton & Associates Inc. grew its stake in Tesla by 2,144.2% in the 3rd quarter. Calton & Associates Inc. now owns 32,069 shares of the electric vehicle producer’s stock valued at $8,390,000 after buying an additional 30,640 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 0.0 %

NASDAQ:TSLA opened at $355.84 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock’s fifty day simple moving average is $406.31 and its 200-day simple moving average is $308.78. The firm has a market capitalization of $1.14 trillion, a P/E ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Robert W. Baird decreased their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research report on Thursday, January 30th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Wednesday, February 12th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $326.50.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.