Candriam S.C.A. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Candriam S.C.A. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,081 shares of the electric vehicle producer’s stock after selling 17,262 shares during the quarter. Candriam S.C.A.’s holdings in Tesla were worth $82,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter worth about $7,844,757,000. Vanguard Group Inc. grew its position in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the period. 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 worth $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Tesla by 60.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after buying an additional 1,072,366 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Canaccord Genuity Group lifted their target price on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. TD Cowen increased their price target on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Nine equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $204.21.

Tesla Stock Performance

Shares of TSLA stock opened at $210.73 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The stock has a market cap of $673.21 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29. The company’s fifty day moving average price is $224.47 and its 200-day moving average price is $193.60. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.10% 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.