Gulf International Bank UK Ltd Has $59.23 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Gulf International Bank UK Ltd trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,389 shares of the electric vehicle producer’s stock after selling 9,046 shares during the quarter. Tesla makes up 1.5% of Gulf International Bank UK Ltd’s portfolio, making the stock its 9th biggest position. Gulf International Bank UK Ltd’s holdings in Tesla were worth $59,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. FSM Wealth Advisors LLC grew its stake in Tesla by 28.2% in the third quarter. FSM Wealth Advisors LLC now owns 5,125 shares of the electric vehicle producer’s stock worth $1,341,000 after purchasing an additional 1,127 shares in the last quarter. Solitude Financial Services acquired a new position in shares of Tesla in the 3rd quarter worth approximately $235,000. Rational Advisors LLC increased its holdings in shares of Tesla by 128.6% in the 3rd quarter. Rational Advisors LLC now owns 3,063 shares of the electric vehicle producer’s stock valued at $801,000 after acquiring an additional 1,723 shares during the last quarter. Quintet Private Bank Europe S.A. raised its position in shares of Tesla by 19.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 53,879 shares of the electric vehicle producer’s stock valued at $14,096,000 after acquiring an additional 8,867 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services bought a new position in Tesla during the third quarter worth $229,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, 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. Over the last 90 days, insiders sold 16,297 shares of company stock valued at $4,072,906. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. Wolfe Research began coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Guggenheim upped their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $219.45.

Tesla Stock Performance

Tesla stock opened at $242.84 on Tuesday. 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 $273.54. The firm’s 50 day simple moving average is $234.73 and its 200-day simple moving average is $211.81. The company has a market cap of $779.53 billion, a P/E ratio of 66.53, a price-to-earnings-growth ratio of 8.21 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm 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%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.96 EPS for the current year.

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.