Banque Pictet & Cie SA decreased its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 24.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,040 shares of the electric vehicle producer’s stock after selling 963 shares during the quarter. Banque Pictet & Cie SA’s holdings in Tesla were worth $1,099,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TSLA. SRS Capital Advisors Inc. boosted its position in shares of Tesla by 1,213.3% during the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after acquiring an additional 364 shares during the last quarter. Winfield Associates Inc. boosted its position in shares of Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Tesla during the first quarter worth $122,000. Acropolis Investment Management LLC bought a new position in shares of Tesla during the second quarter worth $122,000. Finally, North Star Investment Management Corp. boosted its position in shares of Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 56.67% of the company’s stock.

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TSLA has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) upped their target price on shares of Tesla from $180.00 to $190.00 in a research report on Friday, August 4th. Guggenheim upped their target price on shares of Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Berenberg Bank upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Global Equities Research restated a “buy” rating and set a $385.00 target price on shares of Tesla in a research report on Tuesday, June 13th. Finally, BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $310.84.

Tesla Inc. (TSLA) opened at 355.40 on Tuesday. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $386.99. The stock’s market capitalization is $59.31 billion. The firm’s 50-day moving average is $344.55 and its 200-day moving average is $317.16.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company’s revenue was up 119.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.06) earnings per share. Analysts predict that Tesla Inc. will post ($6.18) earnings per share for the current year.

In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders sold 51,657 shares of company stock valued at $17,668,497 over the last three months. Corporate insiders own 23.10% of the company’s stock.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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