GF Fund Management CO. LTD. Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

GF Fund Management CO. LTD. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 429,750 shares of the electric vehicle producer's stock after acquiring an additional 6,790 shares during the period. Tesla comprises 2.6% of GF Fund Management CO. LTD.'s investment portfolio, making the stock its 8th biggest position. GF Fund Management CO. LTD.'s holdings in Tesla were worth $111,374,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC raised its position in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. True Wealth Design LLC raised its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 6.8%

Shares of TSLA stock traded down $21.41 during trading hours on Monday, hitting $293.94. 130,417,797 shares of the company were exchanged, compared to its average volume of 101,044,397. The firm has a market cap of $946.77 billion, a PE ratio of 161.51, a PEG ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $320.93 and a 200 day moving average of $324.35.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the company posted $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the 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 directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,509 shares of company stock valued at $277,648,925 over the last three months. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TSLA shares. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Benchmark reissued a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.