Bank Pictet & Cie Europe AG Has $10.83 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bank Pictet & Cie Europe AG increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,381 shares of the electric vehicle producer’s stock after acquiring an additional 12,182 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Tesla were worth $10,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clean Energy Transition LLP lifted its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 0.4 %

TSLA opened at $217.97 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $695.15 billion, a P/E ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29. The stock’s fifty day moving average is $228.30 and its two-hundred day moving average is $206.36.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. Analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Monday, October 7th. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Jefferies Financial Group boosted their target price on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $211.63.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by corporate insiders.

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.