IFM Investors Pty Ltd boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 586,460 shares of the electric vehicle producer's stock after acquiring an additional 46,087 shares during the quarter. Tesla accounts for about 1.5% of IFM Investors Pty Ltd's holdings, making the stock its 9th biggest holding. IFM Investors Pty Ltd's holdings in Tesla were worth $153,436,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of TSLA. Norges Bank purchased a new position in shares of Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Tesla
In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate insiders.
Tesla Stock Performance
Shares of Tesla stock opened at $313.56 on Friday. The firm has a market cap of $1.01 trillion, a P/E ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $320.36 and its 200-day moving average price is $327.07.
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 company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the business earned $0.45 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on TSLA. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday. 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. Mizuho increased their target price on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $301.24.
Check Out Our Latest Stock Report on TSLA
About Tesla
(
Free Report)
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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