AustralianSuper Pty Ltd Trims Position in Tesla, Inc. (NASDAQ:TSLA)

AustralianSuper Pty Ltd lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,553 shares of the electric vehicle producer's stock after selling 1,053 shares during the quarter. AustralianSuper Pty Ltd's holdings in Tesla were worth $921,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. boosted its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd boosted 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. bought a new position in shares of Tesla in the fourth quarter worth about $8,158,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock opened at $329.65 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The business has a 50-day moving average price of $326.27 and a 200 day moving average price of $316.70. The firm has a market cap of $1.06 trillion, a PE ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last three months. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. HSBC reiterated a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Benchmark reiterated a "buy" rating and issued a $475.00 target price (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, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $300.19.

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.

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