Tesla, Inc. (NASDAQ:TSLA) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 586,460 shares of the electric vehicle producer's stock after acquiring an additional 46,087 shares during the quarter. Tesla comprises about 1.5% of IFM Investors Pty Ltd's investment portfolio, 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.

Other hedge funds have also made changes to their positions in the company. Wealth Group Ltd. bought a new stake in Tesla during the fourth quarter worth approximately $275,000. Eagle Capital Management LLC acquired a new position in Tesla in the 4th quarter worth approximately $331,000. Brighton Jones LLC boosted its stake in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new position in Tesla in the 4th quarter worth approximately $346,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 6.8%

Shares of Tesla stock traded down $21.41 on Monday, hitting $293.94. The company had a trading volume of 130,417,797 shares, compared to its average volume of 101,044,397. The firm has a market capitalization of $946.77 billion, a P/E ratio of 161.51, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a 50-day moving average of $320.93 and a 200-day moving average of $324.35.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the company earned $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 829,509 shares of company stock valued at $277,648,925 in the last quarter. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TSLA shares. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Mizuho raised their price target on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, The Goldman Sachs Group raised their price target on shares of Tesla from $285.00 to $315.00 and gave the company a "neutral" rating in a report on Thursday. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $301.60.

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.