Zurich Insurance Group Ltd FI Buys 12,086 Shares of Tesla, Inc. $TSLA

Key Points

• Zurich Insurance Group Ltd FI has increased its stake in Tesla, Inc. by 1.9%, now owning 653,983 shares valued at approximately $169.5 million, making Tesla its 11th largest investment.
• Several institutional investors, including Brighton Jones LLC and Revolve Wealth Partners LLC, have also recently increased their holdings in Tesla, contributing to institutional ownership reaching 66.20% of the company's stock.
• Despite setting varying price targets, analysts currently rate Tesla with an average of "Hold" and a target price of around $303.00, while recent earnings reports showed a decline in EPS compared to last year.

Zurich Insurance Group Ltd FI increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 653,983 shares of the electric vehicle producer's stock after buying an additional 12,086 shares during the quarter. Tesla accounts for approximately 1.4% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 11th largest position. Zurich Insurance Group Ltd FI's holdings in Tesla were worth $169,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of 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 acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla during the 4th quarter worth approximately $346,000. Highview Capital Management LLC DE purchased a new position in Tesla in the fourth quarter worth $2,367,000. Finally, Bison Wealth LLC increased its holdings in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after buying an additional 3,558 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $303.00.

Insider Activity

In related news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,000 shares of company stock valued at $48,663,510. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $346.40 on Tuesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $324.57 and a 200 day moving average of $301.95. The firm has a market cap of $1.12 trillion, a P/E ratio of 200.23, a PEG ratio of 12.24 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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