Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,857 shares of the electric vehicle producer's stock after selling 21,524 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Tesla were worth $8,019,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC increased its holdings in shares of Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer's stock worth $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer's stock worth $4,328,884,000 after buying an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer's stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Roth Mkm upgraded shares of Tesla from a "neutral" rating to a "buy" rating and lifted their target price for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Piper Sandler lifted their target price on shares of Tesla from $315.00 to $500.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 target price for the company. Bank of America downgraded shares of Tesla from a "buy" rating to a "neutral" rating and lifted their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Nine 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $326.50.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. 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, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 523,386 shares of company stock valued at $195,995,200. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

TSLA stock traded down $16.60 on Friday, hitting $337.80. The company's stock had a trading volume of 73,720,762 shares, compared to its average volume of 75,434,742. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.97 and a beta of 2.34. The firm has a 50 day moving average of $400.17 and a two-hundred day moving average of $312.40. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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 analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.