Baillie Gifford & Co. Sells 5,236,250 Shares of Tesla, Inc. (NASDAQ:TSLA)

Baillie Gifford & Co. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,422,673 shares of the electric vehicle producer's stock after selling 5,236,250 shares during the period. Tesla makes up approximately 2.3% of Baillie Gifford & Co.'s holdings, making the stock its 14th largest position. Baillie Gifford & Co. owned approximately 0.23% of Tesla worth $2,997,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the fourth quarter worth $46,000. PayPay Securities Corp lifted its position in shares of 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 acquiring an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer's stock valued at $56,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded down $16.60 during trading hours on Friday, hitting $337.80. The company had a trading volume of 73,720,762 shares, compared to its average volume of 75,434,742. The business has a fifty day simple moving average of $402.14 and a 200-day simple moving average of $311.43. The firm has a market cap of $1.09 trillion, a P/E ratio of 165.59, a price-to-earnings-growth ratio of 5.97 and a beta of 2.34. 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 fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred 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 approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 sale, the director now owns 5,400 shares of the company's stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a report on Friday, January 3rd. Piper Sandler increased their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday, January 30th. Robert W. Baird lowered their price objective on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. Finally, KGI Securities upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price for the company in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $326.50.

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.