Baillie Gifford & Co. Sells 1,634,363 Shares of Tesla, Inc. (NASDAQ:TSLA)

Baillie Gifford & Co. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,658,923 shares of the electric vehicle producer’s stock after selling 1,634,363 shares during the quarter. Tesla makes up approximately 2.5% of Baillie Gifford & Co.’s holdings, making the stock its 12th biggest holding. Baillie Gifford & Co. owned approximately 0.39% of Tesla worth $3,311,954,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tyler Stone Wealth Management raised its stake in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after acquiring an additional 4,929 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Tesla by 60.2% in 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 acquiring an additional 206,248 shares during the last quarter. Scott & Selber Inc. increased its position in Tesla by 80.3% in the third quarter. Scott & Selber Inc. now owns 12,659 shares of the electric vehicle producer’s stock worth $3,312,000 after purchasing an additional 5,639 shares during the period. Finally, AIA Group Ltd raised its holdings in Tesla by 10.1% during the 3rd quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock worth $21,813,000 after purchasing an additional 7,655 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Wells Fargo & Company upped their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price objective on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $225.06.

Tesla Stock Performance

TSLA opened at $350.00 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The business’s fifty day moving average is $243.90 and its 200-day moving average is $217.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.12 trillion, a P/E ratio of 95.89, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on 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 owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is currently owned by corporate insiders.

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.