GF Fund Management CO. LTD. Takes $170.81 Million Position in Tesla, Inc. (NASDAQ:TSLA)

GF Fund Management CO. LTD. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 422,960 shares of the electric vehicle producer's stock, valued at approximately $170,808,000. Tesla makes up approximately 3.7% of GF Fund Management CO. LTD.'s investment portfolio, making the stock its 7th biggest holding.

Several other large investors have also recently bought and sold shares of TSLA. Hengehold Capital Management LLC grew its holdings in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI grew its stake in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after purchasing an additional 24 shares in the last quarter. Vista Finance LLC increased its position in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. Prospect Financial Services LLC lifted its position in shares of Tesla by 0.3% during the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock worth $3,029,000 after purchasing an additional 26 shares during the last quarter. Finally, Jmac Enterprises LLC raised its position in shares of Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock valued at $116,650,831 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 6.6%

Tesla stock traded up $22.56 during mid-day trading on Tuesday, hitting $361.90. The company had a trading volume of 107,814,563 shares, compared to its average volume of 97,577,962. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company has a market capitalization of $1.17 trillion, a PE ratio of 177.40, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The stock's 50 day moving average price is $279.40 and its two-hundred day moving average price is $333.38. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Wedbush restated an "outperform" rating and issued a $500.00 price objective (up previously from $350.00) on shares of Tesla in a report on Friday. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Mizuho lifted their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $293.97.

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.