Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Ninety One UK Ltd

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

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Tesla by 14.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 54,048 shares of the electric vehicle producer's stock worth $14,007,000 after purchasing an additional 6,680 shares during the last quarter. Pekin Hardy Strauss Inc. increased its position in shares of Tesla by 56.2% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 1,471 shares of the electric vehicle producer's stock worth $381,000 after purchasing an additional 529 shares during the last quarter. Jessup Wealth Management Inc acquired a new stake in shares of Tesla during the 1st quarter worth about $6,067,000. Gibraltar Capital Management Inc. acquired a new stake in shares of Tesla during the 1st quarter worth about $3,194,000. Finally, Family Capital Management Inc. increased its position in shares of Tesla by 21.6% during the 1st quarter. Family Capital Management Inc. now owns 1,450 shares of the electric vehicle producer's stock worth $376,000 after purchasing an additional 258 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock worth $279,420,485 in the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded up $3.64 on Friday, reaching $313.51. The stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,821,915. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The business's 50-day moving average price is $322.60 and its 200 day moving average price is $321.24. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.22 and a beta of 2.39.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday. Cantor Fitzgerald dropped their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and an average target price of $300.19.

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.