Baillie Gifford & Co. Has $3 Billion Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Baillie Gifford & Co. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 41.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,422,673 shares of the electric vehicle producer’s stock after selling 5,236,250 shares during the period. Tesla makes up about 2.3% of Baillie Gifford & Co.’s portfolio, making the stock its 14th largest position. Baillie Gifford & Co.’s holdings in Tesla were worth $2,997,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter valued at about $46,000. PayPay Securities Corp raised its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at about $35,000. Finally, Finley Financial LLC acquired a new position in Tesla in the fourth quarter valued at about $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 target price on shares of Tesla in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $326.50.

Tesla Trading Down 1.7 %

Shares of Tesla stock opened at $354.40 on Friday. The stock has a fifty day simple moving average of $402.14 and a 200 day simple moving average of $311.43. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $1.14 trillion, a P/E ratio of 173.73, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was 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 owns 5,400 shares in the company, valued at $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 available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

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.