Tesla, Inc. $TSLA Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 47.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,202 shares of the electric vehicle producer’s stock after selling 110,260 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Tesla were worth $38,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westerkirk Capital Inc. purchased a new position in shares of Tesla during the 2nd quarter worth $853,000. M&T Bank Corp boosted its stake in Tesla by 1.0% during the second quarter. M&T Bank Corp now owns 331,039 shares of the electric vehicle producer’s stock worth $105,158,000 after buying an additional 3,185 shares during the period. Riverview Capital Advisers LLC increased its position in shares of Tesla by 13.8% during the second quarter. Riverview Capital Advisers LLC now owns 28,456 shares of the electric vehicle producer’s stock valued at $9,039,000 after acquiring an additional 3,442 shares during the last quarter. ARK & TLK Investments LLC purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $272,000. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of Tesla by 3.5% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 140,945 shares of the electric vehicle producer’s stock worth $44,773,000 after acquiring an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the company an “overweight” rating in a report on Thursday, October 23rd. HSBC reaffirmed a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. President Capital raised their target price on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Barclays reissued a “neutral” rating and set a $350.00 price target on shares of Tesla in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $398.92.

Tesla Stock Up 0.1%

Shares of NASDAQ:TSLA opened at $455.00 on Friday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm’s 50 day moving average price is $434.93 and its 200 day moving average price is $372.41. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 303.33, a price-to-earnings-growth ratio of 15.36 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,606 shares of company stock worth $33,554,102 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

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.