Union Bancaire Privee UBP SA Sells 1,685 Shares of Tesla, Inc. (NASDAQ:TSLA)

Union Bancaire Privee UBP SA lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.6% in the 1st quarter, HoldingsChannel reports. The fund owned 5,446 shares of the electric vehicle producer’s stock after selling 1,685 shares during the period. Union Bancaire Privee UBP SA’s holdings in Tesla were worth $1,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bellecapital International Ltd. increased its position in shares of Tesla by 173.2% during the first quarter. Bellecapital International Ltd. now owns 4,324 shares of the electric vehicle producer’s stock worth $1,121,000 after purchasing an additional 2,741 shares in the last quarter. McElhenny Sheffield Capital Management LLC grew its stake in Tesla by 34.0% during the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 2,221 shares of the electric vehicle producer’s stock worth $576,000 after buying an additional 564 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its position in Tesla by 15.0% during the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 2,651 shares of the electric vehicle producer’s stock valued at $687,000 after buying an additional 345 shares in the last quarter. Spectrum Asset Management Inc. NB CA raised its stake in Tesla by 63.4% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 920 shares of the electric vehicle producer’s stock valued at $239,000 after buying an additional 357 shares during the last quarter. Finally, Sterling Financial Group Inc. boosted its holdings in Tesla by 3.3% in the first quarter. Sterling Financial Group Inc. now owns 2,782 shares of the electric vehicle producer’s stock worth $721,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $319.11 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.03 trillion, a PE ratio of 156.43, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a fifty-two week low of $176.92 and a fifty-two week high of $488.54. The company has a fifty day moving average of $297.32 and a two-hundred day moving average of $332.97.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the company earned $0.45 EPS. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Glj Research restated a “sell” rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. HSBC lowered their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $293.67.

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.