Next Century Growth Investors LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Next Century Growth Investors LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,474 shares of the electric vehicle producer’s stock after selling 2,431 shares during the quarter. Next Century Growth Investors LLC’s holdings in Tesla were worth $1,551,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Tesla by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 49,109,751 shares of the electric vehicle producer’s stock valued at $6,037,981,000 after purchasing an additional 1,614,023 shares in the last quarter. FMR LLC raised its position in shares of Tesla by 3.9% during the first quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock valued at $6,913,893,000 after buying an additional 1,244,230 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla during the fourth quarter valued at approximately $3,459,540,000. Moneta Group Investment Advisors LLC raised its position in shares of Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after buying an additional 5,292,464 shares during the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Down 4.5 %

Tesla stock traded down $11.53 during trading hours on Friday, reaching $246.55. The stock had a trading volume of 71,665,988 shares, compared to its average volume of 145,417,469. The company has a market cap of $782.55 billion, a price-to-earnings ratio of 73.11, a PEG ratio of 3.70 and a beta of 2.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. The business’s 50 day moving average price is $256.94 and its 200-day moving average price is $216.27. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 2.95 EPS for the current year.

Insider Activity

In related news, SVP Andrew D. Baglino sold 1,298 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $215.51, for a total value of $279,731.98. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at approximately $14,403,395.34. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total value of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,249,350.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 1,298 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $215.51, for a total value of $279,731.98. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at approximately $14,403,395.34. The disclosure for this sale can be found here. Insiders have sold a total of 70,979 shares of company stock worth $17,907,222 over the last 90 days. 20.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLA shares. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating in a research report on Monday, June 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 3rd. Morgan Stanley restated an “equal weight” rating and issued a $250.00 price target on shares of Tesla in a research report on Friday, July 21st. Jefferies Financial Group boosted their price target on shares of Tesla from $185.00 to $265.00 and gave the stock a “hold” rating in a research report on Monday, July 10th. Finally, UBS Group cut shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $220.00 to $270.00 in a research report on Monday, July 24th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $233.77.

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. It 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, retail merchandise, and vehicle insurance services.