China Universal Asset Management Co. Ltd. Buys 6,680 Shares of Tesla, Inc. (NASDAQ:TSLA)

China Universal Asset Management Co. Ltd. raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 54,048 shares of the electric vehicle producer's stock after purchasing an additional 6,680 shares during the quarter. Tesla accounts for 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 SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in Tesla in the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. lifted 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 purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted its position in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Harvard Management Co. Inc. bought a new stake in Tesla in the fourth quarter valued at approximately $8,158,000. Finally, Blackston Financial Advisory Group LLC lifted its position in Tesla by 40.4% in the first quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer's stock valued at $788,000 after purchasing an additional 874 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 6.8%

NASDAQ TSLA opened at $293.94 on Tuesday. 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, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock's 50 day moving average is $321.10 and its 200 day moving average is $323.46. The stock has a market cap of $946.77 billion, a PE ratio of 161.51, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on 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 owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 829,509 shares of company stock worth $277,648,925. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TSLA shares. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Guggenheim reaffirmed a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Monday, June 23rd. Finally, The Goldman Sachs Group upped their price target on Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $301.60.

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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