ClariVest Asset Management LLC Has $6.04 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

ClariVest Asset Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,509 shares of the electric vehicle producer’s stock after selling 9,068 shares during the period. Tesla accounts for approximately 0.6% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. ClariVest Asset Management LLC’s holdings in Tesla were worth $6,037,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Tesla stock opened at $226.17 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The firm has a market capitalization of $722.53 billion, a P/E ratio of 57.70, a PEG ratio of 5.57 and a beta of 2.29. The business has a fifty day moving average price of $224.49 and a 200-day moving average price of $193.96.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Guggenheim reissued a “sell” rating and set a $134.00 price target on shares of Tesla in a research report on Tuesday, July 23rd. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “hold” rating and set a $215.00 price target on shares of Tesla in a report on Wednesday, August 14th. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $209.03.

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.