DnB Asset Management AS Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

DnB Asset Management AS trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 622,057 shares of the electric vehicle producer's stock after selling 31,757 shares during the period. Tesla comprises about 1.1% of DnB Asset Management AS's investment portfolio, making the stock its 14th biggest position. DnB Asset Management AS's holdings in Tesla were worth $251,211,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tesla by 1.8% in the third 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 in the last quarter. Norges Bank bought a new position in shares of Tesla during the fourth quarter worth $14,420,248,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tesla by 13.7% in 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 valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock worth $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

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Tesla Stock Down 3.2 %

Shares of TSLA stock traded down $8.53 during mid-day trading on Monday, hitting $255.02. The stock had a trading volume of 74,281,055 shares, compared to its average volume of 93,158,416. The firm has a market capitalization of $820.29 billion, a P/E ratio of 125.35, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm's 50-day moving average is $321.33 and its two-hundred day moving average is $323.01.

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

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSLA. Morgan Stanley cut their price objective on Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. The Goldman Sachs Group reaffirmed a "cautious" rating on shares of Tesla in a research note on Monday, March 3rd. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price target on the stock. Finally, Roth Capital upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $317.75.

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.