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

EULAV Asset Management reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 9.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 40,010 shares of the electric vehicle producer’s stock after selling 3,990 shares during the period. EULAV Asset Management’s holdings in Tesla were worth $10,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Bank & Trust Co purchased a new position in Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter valued at $26,000. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter valued at $29,000. Finally, Clean Yield Group grew 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 buying an additional 48 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Tesla stock opened at $346.00 on Wednesday. The firm has a market cap of $1.11 trillion, a PE ratio of 94.79, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $257.14 and its two-hundred day moving average is $223.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business earned $0.53 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TSLA shares. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Nine 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 MarketBeat, the company has an average rating of “Hold” and an average price target 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.