Primecap Management Co. CA Sells 104,515 Shares of Tesla, Inc. (NASDAQ:TSLA)

Primecap Management Co. CA lessened its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,718,685 shares of the electric vehicle producer's stock after selling 104,515 shares during the quarter. Tesla accounts for approximately 1.7% of Primecap Management Co. CA's holdings, making the stock its 15th biggest position. Primecap Management Co. CA owned approximately 0.27% of Tesla worth $2,281,070,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth $29,000. Finally, Clean Yield Group lifted its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Citigroup reduced their price objective on Tesla from $274.00 to $258.00 and set a "neutral" rating for the company in a report on Wednesday, July 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. Roth Mkm reiterated a "neutral" rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $230.18.

Tesla Stock Down 1.1 %

TSLA opened at $342.03 on Thursday. The company has a market capitalization of $1.10 trillion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. The firm has a 50-day simple moving average of $259.42 and a two-hundred day simple moving average of $224.12. 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, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Analysts forecast that Tesla, Inc. will post 1.99 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 business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company's stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company's stock.

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.

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