Tesla, Inc. $TSLA is IFM Investors Pty Ltd's 8th Largest Position

Key Points

• IFM Investors Pty Ltd has increased its stake in Tesla, Inc. by 4.1%, now owning 567,766 shares, valued at approximately $180.36 million, making it the firm's 8th largest position.
• Institutional investors collectively own 66.20% of Tesla's stock, with several firms significantly increasing their positions in the first quarter, including Cherry Tree Wealth Management raising their position by 86.3%.
• Analysts have a mixed outlook on Tesla, with a consensus rating of "Hold" and an average price target of $317.70, while recent quarterly earnings reported a miss on EPS estimates.

IFM Investors Pty Ltd grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 567,766 shares of the electric vehicle producer's stock after purchasing an additional 22,592 shares during the quarter. Tesla comprises approximately 1.7% of IFM Investors Pty Ltd's investment portfolio, making the stock its 8th largest position. IFM Investors Pty Ltd's holdings in Tesla were worth $180,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TSLA. Grove Bank & Trust raised its holdings in Tesla by 3.8% in the second quarter. Grove Bank & Trust now owns 3,251 shares of the electric vehicle producer's stock worth $1,033,000 after purchasing an additional 118 shares in the last quarter. Cypress Financial Planning LLC increased its holdings in shares of Tesla by 19.3% in the second quarter. Cypress Financial Planning LLC now owns 990 shares of the electric vehicle producer's stock valued at $315,000 after purchasing an additional 160 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in Tesla in the second quarter valued at approximately $794,000. Three Seasons Wealth LLC purchased a new stake in Tesla in the second quarter valued at $209,946,000. Finally, Legacy Financial Strategies LLC increased its holdings in Tesla by 3.0% during the 2nd quarter. Legacy Financial Strategies LLC now owns 3,876 shares of the electric vehicle producer's stock worth $1,231,000 after purchasing an additional 114 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock traded down $0.82 during midday trading on Tuesday, reaching $433.39. The company had a trading volume of 28,389,975 shares, compared to its average volume of 102,937,211. The firm has a 50-day moving average price of $343.03 and a 200-day moving average price of $309.87. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market capitalization of $1.44 trillion, a P/E ratio of 250.45, a P/E/G ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last three months. 19.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $326.74.

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.