Primecap Management Co. CA Has $3.05 Billion Holdings in Tesla, Inc. (NASDAQ:TSLA)

Primecap Management Co. CA reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,555,735 shares of the electric vehicle producer’s stock after selling 1,162,950 shares during the quarter. Tesla accounts for approximately 2.4% of Primecap Management Co. CA’s holdings, making the stock its 9th biggest position. Primecap Management Co. CA’s holdings in Tesla were worth $3,051,308,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Swedbank AB grew its stake in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares during the period. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. United Bank bought a new position in shares of Tesla during the 3rd quarter valued at approximately $287,000. Chesapeake Capital Corp IL bought a new position in shares of Tesla during the 3rd quarter valued at approximately $221,000. Finally, Quest Partners LLC bought a new position in shares of Tesla during the 3rd quarter valued at approximately $2,363,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 over the last quarter. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TSLA shares. Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Mizuho cut their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Benchmark started coverage on shares of Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $323.00.

Tesla Stock Performance

Shares of Tesla stock opened at $238.01 on Tuesday. The firm has a market cap of $765.56 billion, a P/E ratio of 116.67, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s fifty day moving average price is $347.85 and its 200-day moving average price is $320.53.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.