MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 46,266 Shares of Tesla, Inc. (NASDAQ:TSLA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 76.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,201 shares of the electric vehicle producer’s stock after selling 46,266 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Tesla were worth $2,496,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Synergy Asset Management LLC increased its position in Tesla by 58.1% in the first quarter. Synergy Asset Management LLC now owns 18,284 shares of the electric vehicle producer’s stock worth $3,214,000 after purchasing an additional 6,718 shares during the period. Cullinan Associates Inc. increased its position in Tesla by 1.0% in the first quarter. Cullinan Associates Inc. now owns 23,831 shares of the electric vehicle producer’s stock worth $4,189,000 after purchasing an additional 231 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in Tesla by 21.5% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,377 shares of the electric vehicle producer’s stock worth $418,000 after purchasing an additional 420 shares during the period. Panoramic Investment Advisors LLC increased its position in Tesla by 184.7% in the first quarter. Panoramic Investment Advisors LLC now owns 3,744 shares of the electric vehicle producer’s stock worth $658,000 after purchasing an additional 2,429 shares during the period. Finally, Steele Capital Management Inc. increased its position in Tesla by 20.4% in the first quarter. Steele Capital Management Inc. now owns 5,161 shares of the electric vehicle producer’s stock worth $907,000 after purchasing an additional 876 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $231.26 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock’s fifty day moving average price is $179.16 and its two-hundred day moving average price is $191.09. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The firm has a market cap of $737.53 billion, a price-to-earnings ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, equities analysts forecast that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday. HSBC decreased their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 price objective on shares of Tesla in a research report on Friday, June 14th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $187.30.

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.