Tesla, Inc. (NASDAQ:TSLA) Stock Position Increased by Korea Investment CORP

Korea Investment CORP grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,244,258 shares of the electric vehicle producer’s stock after acquiring an additional 33,933 shares during the period. Tesla accounts for approximately 1.7% of Korea Investment CORP’s portfolio, making the stock its 6th largest holding. Korea Investment CORP owned 0.07% of Tesla worth $587,479,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TSLA. Norges Bank purchased a new position in shares of Tesla during the 4th quarter valued at $3,459,540,000. Moneta Group Investment Advisors LLC increased its position in shares of Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after purchasing an additional 13,558,882 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tesla by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock worth $5,440,471,000 after acquiring an additional 9,034,938 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Tesla by 98,265.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,971,790 shares of the electric vehicle producer’s stock valued at $1,563,235,000 after acquiring an additional 5,965,719 shares during the last quarter. 41.87% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s 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 transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,209,250.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 1,065 shares of Tesla stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the sale, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at approximately $14,862,374.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,065 shares of company stock valued at $10,248,880. 25.10% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $6.45 during trading on Tuesday, reaching $242.05. 76,295,126 shares of the company’s stock traded hands, compared to its average volume of 139,678,281. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $299.29. The company has a 50-day simple moving average of $239.28 and a 200-day simple moving average of $238.77. The firm has a market cap of $769.46 billion, a PE ratio of 75.76, a P/E/G ratio of 4.38 and a beta of 2.28.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.07). Tesla had a net margin of 11.21% and a return on equity of 21.47%. The company had revenue of $23.35 billion during the quarter, compared to analyst estimates of $24.19 billion. During the same quarter last year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Tesla from $400.00 to $380.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. UBS Group dropped their target price on shares of Tesla from $290.00 to $266.00 and set a “neutral” rating for the company in a research report on Tuesday, October 10th. Truist Financial reduced their price target on shares of Tesla from $254.00 to $243.00 and set a “hold” rating on the stock in a research report on Monday, October 2nd. Wells Fargo & Company lowered their price objective on shares of Tesla from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Finally, Jefferies Financial Group decreased their target price on Tesla from $250.00 to $210.00 and set a “hold” rating for the company in a research report on Monday. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $233.87.

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. 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.