Primecap Management Co. CA Sells 1,162,950 Shares of Tesla, Inc. (NASDAQ:TSLA)

Primecap Management Co. CA decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,555,735 shares of the electric vehicle producer’s stock after selling 1,162,950 shares during the period. Tesla makes up about 2.4% of Primecap Management Co. CA’s portfolio, making the stock its 9th largest position. Primecap Management Co. CA owned approximately 0.23% of Tesla worth $3,051,308,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TSLA. Swedbank AB grew its stake in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares in the last quarter. United Bank bought a new stake in shares of Tesla in the 3rd quarter worth $287,000. Chesapeake Capital Corp IL bought a new stake in shares of Tesla in the 3rd quarter worth $221,000. Finally, Quest Partners LLC bought a new stake in shares of Tesla in the 3rd quarter worth $2,363,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was 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 directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 4.8 %

TSLA stock opened at $238.01 on Tuesday. The company has a market capitalization of $765.56 billion, a PE ratio of 116.67, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company’s 50 day moving average price is $347.85 and its two-hundred day moving average price is $320.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Mizuho reduced their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday. Piper Sandler increased their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Barclays increased their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Finally, Truist Financial increased their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $323.00.

Tesla 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.