MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Tesla, Inc. $TSLA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tesla by 1.7%, owning approximately 1,882,557 shares worth around $488 million as of the latest SEC filing.
• Several institutional investors, such as Brighton Jones LLC and Bison Wealth LLC, have also significantly increased their stakes in Tesla during the last quarter.
• Analyst ratings for Tesla are mixed, with price targets ranging from $303.31 to $500.00 and an overall average rating of "Hold".

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,882,557 shares of the electric vehicle producer's stock after buying an additional 30,941 shares during the quarter. Tesla makes up 1.1% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 10th largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Tesla worth $488,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Brighton Jones LLC lifted its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Tesla in the 4th quarter valued at about $346,000. Highview Capital Management LLC DE bought a new stake in shares of Tesla in the 4th quarter valued at about $2,367,000. Finally, Bison Wealth LLC raised its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSLA shares. Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. China Renaissance reiterated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Benchmark reiterated a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $338.53 on Friday. The company's 50 day moving average price is $323.45 and its two-hundred day moving average price is $302.67. Tesla, Inc. has a 12-month low of $210.51 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.09 trillion, a PE ratio of 195.68, a PEG ratio of 11.66 and a beta of 2.06.

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

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,564 shares of company stock valued at $49,396,070. Company insiders own 20.70% of the company's stock.

Tesla Company 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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