Myriad Asset Management US LP Makes New $3.19 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Myriad Asset Management US LP purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,887 shares of the electric vehicle producer’s stock, valued at approximately $3,185,000. Tesla accounts for about 2.1% of Myriad Asset Management US LP’s investment portfolio, making the stock its 9th biggest holding.

Several other institutional investors have also modified their holdings of the business. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the 4th quarter worth $46,000. PayPay Securities Corp boosted its stake in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler raised their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. UBS Group raised their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Finally, Truist Financial upped their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $326.50.

Tesla Price Performance

Tesla stock opened at $354.11 on Wednesday. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 173.58, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a fifty day moving average of $405.64 and a 200-day moving average of $309.75.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock valued at $195,995,200 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.