Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Bessemer Group Inc.

Posted by Defense World Staff on Jun 10th, 2023

Bessemer Group Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,814 shares of the electric vehicle producer’s stock after selling 16,059 shares during the period. Bessemer Group Inc.’s holdings in Tesla were worth $1,948,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. JDM Financial Group LLC bought a new stake in Tesla in the 4th quarter valued at about $27,000. Alpha Paradigm Partners LLC bought a new stake in shares of Tesla during the 3rd quarter worth about $27,000. Veritas Investment Partners UK Ltd. raised its position in shares of Tesla by 200.0% during the 3rd quarter. Veritas Investment Partners UK Ltd. now owns 120 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 80 shares in the last quarter. Piershale Financial Group Inc. bought a new stake in shares of Tesla during the 4th quarter worth about $33,000. Finally, WJ Interests LLC bought a new stake in shares of Tesla during the 4th quarter worth about $37,000. 43.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CAO Vaibhav Taneja sold 3,181 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $215.51, for a total value of $685,537.31. Following the completion of the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at $22,521,657.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Vaibhav Taneja sold 3,181 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $215.51, for a total value of $685,537.31. Following the completion of the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at $22,521,657.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 1,298 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $215.51, for a total transaction of $279,731.98. Following the completion of the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at $14,403,395.34. The disclosure for this sale can be found here. Insiders sold 147,230 shares of company stock worth $28,446,207 over the last ninety days. 25.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Tesla from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. StockNews.com initiated coverage on shares of Tesla in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Daiwa Capital Markets dropped their price target on shares of Tesla from $218.00 to $185.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Morgan Stanley lowered their price objective on shares of Tesla from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, April 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tesla from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $200.11.

Tesla Price Performance

NASDAQ TSLA opened at $244.40 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $774.63 billion, a PE ratio of 71.88, a price-to-earnings-growth ratio of 3.15 and a beta of 2.00. The company has a 50 day moving average price of $183.44 and a two-hundred day moving average price of $173.99. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $314.67.

Tesla (NASDAQ:TSLA – Get Rating) last posted its earnings results on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $23.33 billion during the quarter, compared to analysts’ expectations of $23.36 billion. Tesla had a net margin of 13.66% and a return on equity of 27.29%. The company’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 3.03 earnings per share for the current fiscal year.

About Tesla

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.