Bank Pictet & Cie Europe AG Buys 12,182 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bank Pictet & Cie Europe AG boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 41.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,381 shares of the electric vehicle producer’s stock after purchasing an additional 12,182 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Tesla were worth $10,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc raised its stake in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the period. NewEdge Advisors LLC lifted its holdings in Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares in the last quarter. Entropy Technologies LP acquired a new position in Tesla in the first quarter valued at about $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Tesla in the first quarter worth about $79,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TSLA. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada increased their price objective on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a research report on Friday, October 11th. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $211.63.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $217.97 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company’s 50 day moving average price is $228.30 and its two-hundred day moving average price is $206.36. The firm has a market cap of $695.15 billion, a PE ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. Equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $221.77, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% 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.