Gateway Investment Advisers LLC Sells 53,872 Shares of Tesla, Inc. (NASDAQ:TSLA)

Gateway Investment Advisers LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,055 shares of the electric vehicle producer’s stock after selling 53,872 shares during the quarter. Tesla makes up about 1.1% of Gateway Investment Advisers LLC’s holdings, making the stock its 15th biggest holding. Gateway Investment Advisers LLC’s holdings in Tesla were worth $95,815,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wyrmwood Management LLC bought a new stake in Tesla during the 4th quarter valued at about $25,000. Lam Group Inc. purchased a new position in Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC lifted its position in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. raised its stake in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 1.9 %

Shares of TSLA stock traded up $3.39 during mid-day trading on Tuesday, hitting $185.97. The stock had a trading volume of 28,652,904 shares, compared to its average volume of 95,223,844. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The firm’s 50-day moving average is $174.41 and its two-hundred day moving average is $192.65. The firm has a market capitalization of $593.10 billion, a P/E ratio of 47.24, a price-to-earnings-growth ratio of 4.54 and a beta of 2.32.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock valued at $19,285,643 over the last 90 days. Insiders own 20.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Wedbush reissued an “outperform” rating and set a $275.00 price objective on shares of Tesla in a report on Friday, June 14th. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Finally, Jefferies Financial Group reduced their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $182.82.

View Our Latest Stock Analysis on TSLA

Tesla Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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