EULAV Asset Management Sells 3,990 Shares of Tesla, Inc. (NASDAQ:TSLA)

EULAV Asset Management decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,010 shares of the electric vehicle producer's stock after selling 3,990 shares during the quarter. EULAV Asset Management's holdings in Tesla were worth $10,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TSLA. Jennison Associates LLC raised its position in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Swiss National Bank grew its holdings in shares of Tesla by 0.4% during the third quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer's stock valued at $2,229,003,000 after buying an additional 33,100 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock worth $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 1.1 %

Shares of NASDAQ:TSLA traded down $3.97 during midday trading on Wednesday, hitting $342.03. 66,080,885 shares of the stock traded hands, compared to its average volume of 95,997,984. The business's 50 day moving average is $257.14 and its two-hundred day moving average is $223.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The stock has a market capitalization of $1.10 trillion, a PE ratio of 92.86, a P/E/G ratio of 10.42 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. During the same period last year, the company posted $0.53 EPS. The company's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley reissued an "overweight" rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Phillip Securities cut Tesla from a "moderate sell" rating to a "strong sell" rating in a research note on Wednesday, November 13th. Roth Mkm reiterated a "neutral" rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Jefferies Financial Group raised their price target on shares of Tesla from $195.00 to $300.00 and gave the company a "hold" rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $230.18.

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.