China Universal Asset Management Co. Ltd. Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

China Universal Asset Management Co. Ltd. grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,048 shares of the electric vehicle producer's stock after purchasing an additional 6,680 shares during the period. Tesla makes up about 1.3% of China Universal Asset Management Co. Ltd.'s portfolio, making the stock its 15th biggest position. China Universal Asset Management Co. Ltd.'s holdings in Tesla were worth $14,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Rinkey Investments lifted its stake in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after purchasing an additional 30 shares during the last quarter. Pitti Group Wealth Management LLC lifted its stake in shares of Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after purchasing an additional 31 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 over the last quarter. Company insiders own 20.70% of the company's stock.

Tesla Stock Up 1.2%

Shares of NASDAQ:TSLA traded up $3.64 on Friday, reaching $313.51. The company had a trading volume of 78,861,329 shares, compared to its average volume of 99,821,915. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The firm's 50 day simple moving average is $322.60 and its 200-day simple moving average is $321.24. The firm has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a PEG ratio of 9.22 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 business 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 earned $0.45 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TSLA shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus target price of $300.19.

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.