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

Primecap Management Co. CA reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 8,718,685 shares of the electric vehicle producer’s stock after selling 104,515 shares during the quarter. Tesla comprises about 1.7% of Primecap Management Co. CA’s portfolio, making the stock its 15th largest holding. Primecap Management Co. CA’s holdings in Tesla were worth $2,281,070,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares in the last quarter. EntryPoint Capital LLC increased its stake in shares of Tesla by 264.1% during the first quarter. EntryPoint Capital LLC now owns 670 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 486 shares during the period. Capital International Investors bought a new stake in shares of Tesla in the first quarter valued at about $48,068,000. Westwood Holdings Group Inc. lifted its stake in Tesla by 466.9% in the first quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock worth $2,777,000 after acquiring an additional 13,012 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Tesla by 86.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 979,760 shares of the electric vehicle producer’s stock worth $172,232,000 after acquiring an additional 454,567 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a report on Wednesday, July 24th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group increased their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.1 %

Shares of NASDAQ:TSLA opened at $342.03 on Thursday. The company has a market capitalization of $1.10 trillion, a PE ratio of 93.71, a PEG ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The business has a 50 day moving average of $259.42 and a two-hundred day moving average of $224.12. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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