Pictet Asset Management Holding SA Has $920.88 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Pictet Asset Management Holding SA boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,280,314 shares of the electric vehicle producer’s stock after acquiring an additional 38,489 shares during the quarter. Tesla comprises about 1.0% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 15th biggest position. Pictet Asset Management Holding SA’s holdings in Tesla were worth $920,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Tesla by 5.6% in 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 purchasing an additional 194,796 shares in the last quarter. United Bank bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $287,000. Quantbot Technologies LP acquired a new position in shares of Tesla in the 3rd quarter worth approximately $687,000. Glenmede Trust Co. NA lifted its position in shares of Tesla by 34.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after buying an additional 12,955 shares during the period. Finally, National Wealth Management Group LLC boosted its stake in Tesla by 92.8% in the 3rd quarter. National Wealth Management Group LLC now owns 4,925 shares of the electric vehicle producer’s stock valued at $1,289,000 after buying an additional 2,371 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSLA shares. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Stifel Nicolaus decreased their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a report on Wednesday, March 19th. Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $319.12.

Tesla Stock Performance

Shares of TSLA opened at $273.13 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $324.59 and its two-hundred day simple moving average is $321.35. The stock has a market capitalization of $878.53 billion, a P/E ratio of 133.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.