BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 28.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,384,925 shares of the electric vehicle producer’s stock after selling 563,240 shares during the quarter. Tesla makes up about 0.9% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings, making the stock its 16th biggest holding. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Tesla were worth $362,339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC grew its position in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the period. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the period. Swiss National Bank grew its position in shares of Tesla by 0.4% in the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock worth $2,229,003,000 after buying an additional 33,100 shares during the period. Strategic Financial Concepts LLC grew its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. Finally, ARK Investment Management LLC grew its position in shares of Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 1.1 %

Shares of TSLA opened at $342.03 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The company has a 50 day simple moving average of $259.42 and a two-hundred day simple moving average of $224.12. The firm has a market cap of $1.10 trillion, a P/E ratio of 93.71, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Tesla in a research note on Monday. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price target 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. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Finally, Bank of America upped their price target on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $230.18.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.