Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Decreased by ARK Investment Management LLC

ARK Investment Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,588,781 shares of the electric vehicle producer’s stock after selling 725,614 shares during the period. Tesla comprises approximately 11.0% of ARK Investment Management LLC’s holdings, making the stock its largest position. ARK Investment Management LLC owned approximately 0.14% of Tesla worth $1,200,563,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSLA. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after buying an additional 331 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Tesla by 23.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 75,851 shares of the electric vehicle producer’s stock worth $13,334,000 after acquiring an additional 14,191 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp grew its holdings in Tesla by 9.6% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,187 shares of the electric vehicle producer’s stock worth $209,000 after acquiring an additional 104 shares during the last quarter. Zevenbergen Capital Investments LLC grew its holdings in Tesla by 6.0% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 1,213,406 shares of the electric vehicle producer’s stock worth $213,305,000 after acquiring an additional 68,628 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Tesla by 105.3% during the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 7,800 shares of the electric vehicle producer’s stock worth $1,371,000 after buying an additional 4,000 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $296.91 on Friday. The firm has a market capitalization of $953.10 billion, a P/E ratio of 81.35, a P/E/G ratio of 9.51 and a beta of 2.29. The company’s 50 day moving average price is $237.23 and its two-hundred day moving average price is $213.07. 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 fifty-two week low of $138.80 and a fifty-two week high of $299.75.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. The Goldman Sachs Group increased their price objective 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. William Blair assumed coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group raised their target price on shares of Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $222.03.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,797 shares of company stock worth $19,211,821. Company insiders own 20.70% of the company’s stock.

About Tesla

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.