AIA Group Ltd Purchases 7,015 Shares of Tesla, Inc. (NASDAQ:TSLA)

AIA Group Ltd raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,241 shares of the electric vehicle producer's stock after purchasing an additional 7,015 shares during the period. Tesla accounts for approximately 0.7% of AIA Group Ltd's investment portfolio, making the stock its 27th biggest holding. AIA Group Ltd's holdings in Tesla were worth $29,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the fourth quarter worth $56,600,000. Means Investment CO. Inc. boosted its position in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. purchased a new position in shares of Tesla during the fourth quarter worth $8,158,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Tesla stock opened at $329.61 on Monday. Tesla, Inc. has a 12 month low of $194.67 and a 12 month high of $488.54. The company has a fifty day moving average price of $318.68 and a two-hundred day moving average price of $306.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.06 trillion, a PE ratio of 190.53, a P/E/G ratio of 11.46 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock valued at $214,176,831 in the last quarter. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TSLA shares. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Mizuho lowered their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Benchmark restated a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $303.31.

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. 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.