GF Fund Management CO. LTD. Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

GF Fund Management CO. LTD. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 422,960 shares of the electric vehicle producer's stock, valued at approximately $170,808,000. Tesla comprises approximately 3.7% of GF Fund Management CO. LTD.'s investment portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. CTC Alternative Strategies Ltd. bought a new stake in Tesla in the 4th quarter valued at $1,249,000. Pinney & Scofield Inc. purchased a new position in shares of Tesla during the 4th quarter worth about $363,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Tesla during the 4th quarter worth about $240,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Tesla during the 4th quarter worth about $792,000. Finally, Pacific Point Advisors LLC purchased a new position in shares of Tesla during the 4th quarter worth about $8,602,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. Glj Research reaffirmed a "sell" rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Raymond James cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Argus set a $410.00 target price on shares of Tesla in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $293.97.

Tesla Stock Performance

Shares of TSLA traded down $1.70 during mid-day trading on Wednesday, reaching $361.19. The company had a trading volume of 48,410,921 shares, compared to its average volume of 97,401,849. The stock has a market capitalization of $1.16 trillion, a P/E ratio of 176.94, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $281.93 and a two-hundred day moving average of $333.59.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the company earned $0.45 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.