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OVERSEA CHINESE BANKING Corp Ltd Has $5.02 Million Stake in Tesla, Inc. $TSLA

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Key Points

  • OVERSEA CHINESE BANKING Corp Ltd cut its Tesla stake by 40.3% in Q4, selling 7,501 shares and leaving it with 11,128 shares valued at about $5.02 million.
  • Analysts are polarized — 18 Buys, 14 Holds and 9 Sells — with an average consensus rating of "Hold" and an average price target of $397.26.
  • Insiders have been net sellers (53,804 shares worth ~$20.9M in the last 90 days), while newsflow is mixed: bullish moves on AI/robotaxi initiatives but signs of softer retail demand (California registrations down ~24% y/y) and ongoing legal risks.
  • Five stocks to consider instead of Tesla.

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 40.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,128 shares of the electric vehicle producer's stock after selling 7,501 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Tesla were worth $5,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Networth Advisors LLC bought a new stake in Tesla during the fourth quarter valued at about $26,000. Chapman Financial Group LLC bought a new stake in Tesla during the second quarter valued at about $26,000. Manning & Napier Advisors LLC bought a new stake in Tesla during the third quarter valued at about $29,000. Prism Advisors Inc. bought a new stake in Tesla during the fourth quarter valued at about $30,000. Finally, Turning Point Benefit Group Inc. bought a new stake in Tesla during the third quarter valued at about $30,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Tesla in a report on Tuesday, January 27th. William Blair restated a "market perform" rating on shares of Tesla in a report on Friday, January 2nd. JPMorgan Chase & Co. restated a "sell" rating on shares of Tesla in a report on Tuesday, April 7th. Wells Fargo & Company decreased their price target on shares of Tesla from $130.00 to $125.00 and set an "underweight" rating for the company in a report on Thursday, January 29th. Finally, Robert W. Baird decreased their price target on shares of Tesla from $548.00 to $538.00 and set an "outperform" rating for the company in a report on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $397.26.

View Our Latest Stock Analysis on TSLA

Tesla Stock Down 1.5%

NASDAQ TSLA opened at $386.42 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. The firm has a 50-day simple moving average of $388.44 and a 200 day simple moving average of $421.86. Tesla, Inc. has a twelve month low of $229.85 and a twelve month high of $498.83. The stock has a market cap of $1.45 trillion, a PE ratio of 357.80, a PEG ratio of 12.41 and a beta of 1.91.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion during the quarter, compared to analysts' expectations of $24.75 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm's revenue was down 3.1% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 1.37 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 25,809 shares of the firm's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the completion of the transaction, the director owned 33,860 shares in the company, valued at $12,166,913.80. This trade represents a 43.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,264 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the transaction, the chief financial officer owned 18,106 shares of the company's stock, valued at approximately $7,188,625.18. This represents a 11.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,804 shares of company stock valued at $20,865,598. Corporate insiders own 19.90% of the company's stock.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

About Tesla

(Free Report)

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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