Bellecapital International Ltd. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bellecapital International Ltd. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,167 shares of the electric vehicle producer’s stock after selling 474 shares during the period. Bellecapital International Ltd.’s holdings in Tesla were worth $1,090,000 at the end of the most recent reporting period.

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

Tesla Stock Performance

Shares of Tesla stock traded down $2.76 during trading on Monday, hitting $217.94. 27,784,435 shares of the stock were exchanged, compared to its average volume of 94,026,695. The stock’s fifty day moving average is $227.67 and its 200 day moving average is $205.65. The stock has a market cap of $696.24 billion, a PE ratio of 61.47, a P/E/G ratio of 6.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Friday, October 11th. Truist Financial upped their target price on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research report on Friday, July 5th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 target price on shares of Tesla in a research note on Friday, September 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $210.72.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction 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 dated 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 transaction, the director now owns 85,000 shares in the company, 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. Over the last three months, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by company 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.