E Fund Management Co. Ltd. grew its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,102 shares of the electric vehicle producer’s stock after purchasing an additional 4,173 shares during the quarter. Tesla accounts for about 0.8% of E Fund Management Co. Ltd.’s holdings, making the stock its 22nd biggest holding. E Fund Management Co. Ltd.’s holdings in Tesla were worth $10,235,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in TSLA. State Street Corp grew its stake in shares of Tesla by 0.7% in the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock worth $20,680,162,000 after acquiring an additional 685,454 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tesla by 1.9% in the first quarter. Geode Capital Management LLC now owns 50,047,967 shares of the electric vehicle producer’s stock valued at $10,358,912,000 after purchasing an additional 938,216 shares in the last quarter. FMR LLC boosted its holdings in shares of Tesla by 3.9% in the 1st quarter. FMR LLC now owns 33,326,389 shares of the electric vehicle producer’s stock valued at $6,913,893,000 after buying an additional 1,244,230 shares in the last quarter. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth about $3,459,540,000. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares during the period. Institutional investors and hedge funds own 41.87% of the company’s stock.
Insiders Place Their Bets
In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, August 28th. The stock was sold at an average price of $242.53, for a total value of $2,546,565.00. Following the completion of the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $242.53, for a total value of $2,546,565.00. Following the completion of the sale, the senior vice president now owns 66,834 shares in the company, valued at approximately $16,209,250.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the sale, the chief financial officer now owns 104,504 shares of the company’s stock, valued at $26,128,090.08. The disclosure for this sale can be found here. Insiders have sold a total of 43,065 shares of company stock valued at $10,248,880 in the last quarter. 25.10% of the stock is currently owned by company insiders.
Tesla Price Performance
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a net margin of 11.21% and a return on equity of 21.47%. The firm had revenue of $23.35 billion during the quarter, compared to analyst estimates of $24.19 billion. During the same period in the prior year, the firm earned $0.95 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 2.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $305.00 target price on shares of Tesla in a research note on Tuesday, September 26th. UBS Group cut their price target on Tesla from $290.00 to $266.00 and set a “neutral” rating for the company in a research note on Tuesday, October 10th. Citigroup lowered their price objective on shares of Tesla from $271.00 to $255.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Thursday, October 19th. Finally, Guggenheim reiterated a “sell” rating and set a $125.00 price target on shares of Tesla in a research note on Thursday, October 19th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $233.87.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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