IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Tesla by 138.0% in Q1, acquiring an additional 19,113 shares, making Tesla 1.0% of its total holdings.
• Several other large investors have modified their Tesla positions, with notable increases from Means Investment CO. Inc. (37.7%) and IFM Investors Pty Ltd (8.5%) during the same quarter.
• Wall Street analysts have mixed ratings for Tesla, with a current consensus rating of "Hold" and a price target averaging $303.31, while earnings per share expectations show a decline compared to last year.

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 138.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,964 shares of the electric vehicle producer's stock after purchasing an additional 19,113 shares during the period. Tesla makes up 1.0% of IQ EQ FUND MANAGEMENT IRELAND Ltd's portfolio, making the stock its 20th biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Tesla were worth $8,543,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TSLA. FMR LLC raised its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Northern Trust Corp grew its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Tesla by 54.3% during the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock worth $2,193,728,000 after buying an additional 2,978,026 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Tesla by 65.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,937,475 shares of the electric vehicle producer's stock valued at $2,397,790,000 after purchasing an additional 2,350,065 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 606,724 shares of company stock worth $215,376,831 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Barclays cut their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

Shares of TSLA stock traded down $2.39 during trading on Tuesday, reaching $306.87. 26,279,431 shares of the company's stock traded hands, compared to its average volume of 107,149,445. The company has a market capitalization of $989.81 billion, a P/E ratio of 177.60, a PEG ratio of 10.63 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average is $321.62 and its 200 day moving average is $309.49. Tesla, Inc. has a 1 year low of $191.48 and a 1 year high of $488.54.

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

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.