Sei Investments Co. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sei Investments Co. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 406,404 shares of the electric vehicle producer’s stock after selling 112,888 shares during the period. Sei Investments Co.’s holdings in Tesla were worth $80,420,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. lifted its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in shares of Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after purchasing an additional 1,072,366 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Guggenheim boosted their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and set a $300.00 target price on shares of Tesla in a report on Monday, August 19th. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. HSBC upped their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Finally, Truist Financial reissued a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Trading Down 2.3 %

Shares of NASDAQ:TSLA opened at $238.25 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The stock has a market capitalization of $759.83 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock’s 50-day simple moving average is $221.30 and its two-hundred day simple moving average is $195.94.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.