Ninety One UK Ltd Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Ninety One UK Ltd raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,384,450 shares of the electric vehicle producer's stock after buying an additional 76,815 shares during the quarter. Tesla comprises about 1.0% of Ninety One UK Ltd's portfolio, making the stock its 29th biggest holding. Ninety One UK Ltd's holdings in Tesla were worth $358,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $56,600,000. Means Investment CO. Inc. increased its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its position in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Royal Bank Of Canada cut their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $303.00 price objective on shares of Tesla in a research report on Monday, June 30th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $301.13.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the firm'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 owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 4.5%

Tesla stock traded up $13.28 during trading on Thursday, reaching $309.16. The stock had a trading volume of 84,671,123 shares, compared to its average volume of 100,436,531. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The stock has a market cap of $995.78 billion, a PE ratio of 169.74, a P/E/G ratio of 8.86 and a beta of 2.39. The business has a 50 day moving average price of $321.49 and a 200 day moving average price of $323.10.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations 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 firm posted $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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.