Liontrust Investment Partners LLP Cuts Holdings in Tesla, Inc. $TSLA

by · The Cerbat Gem

Liontrust Investment Partners LLP trimmed its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 35.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 41,680 shares of the electric vehicle producer’s stock after selling 23,170 shares during the period. Liontrust Investment Partners LLP’s holdings in Tesla were worth $13,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Chapman Financial Group LLC bought a new stake in Tesla during the second quarter worth $26,000. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter worth $29,000. CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 2nd quarter worth about $30,000. ESL Trust Services LLC grew its position in Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the period. Finally, Chelsea Counsel Co. increased its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. The trade was a 16.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 119,457 shares of company stock valued at $52,137,945 in the last three months. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $458.96 on Friday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The stock’s 50-day simple moving average is $435.52 and its 200 day simple moving average is $376.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 305.97, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. UBS Group reissued a “sell” rating on shares of Tesla in a research report on Friday, November 7th. CICC Research increased their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. HSBC restated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. BNP Paribas increased their price target on Tesla from $307.00 to $313.00 in a research note on Monday, December 1st. Finally, President Capital boosted their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $399.33.

Read Our Latest Stock Report on Tesla

About Tesla

(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.

See Also

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