Baillie Gifford & Co. Sells 1,634,363 Shares of Tesla, Inc. (NASDAQ:TSLA)

Baillie Gifford & Co. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,658,923 shares of the electric vehicle producer’s stock after selling 1,634,363 shares during the quarter. Tesla comprises approximately 2.5% of Baillie Gifford & Co.’s investment portfolio, making the stock its 12th largest holding. Baillie Gifford & Co.’s holdings in Tesla were worth $3,311,954,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TSLA. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth approximately $29,000. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter valued at $25,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in Tesla in the second quarter worth $26,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Trading Up 9.0 %

Shares of TSLA stock opened at $350.00 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.12 trillion, a P/E ratio of 95.89, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. The business has a 50-day moving average price of $243.90 and a two-hundred day moving average price of $217.03. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Phillip Securities upgraded Tesla to a “moderate sell” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $225.06.

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.