Zurich Insurance Group Ltd FI Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Zurich Insurance Group Ltd FI increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 641,897 shares of the electric vehicle producer's stock after purchasing an additional 188,650 shares during the quarter. Tesla makes up approximately 2.1% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 8th biggest position. Zurich Insurance Group Ltd FI's holdings in Tesla were worth $259,224,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wealth Group Ltd. bought a new stake in Tesla during the fourth quarter valued at about $275,000. Comprehensive Financial Planning Inc. PA bought a new stake in Tesla during the fourth quarter valued at about $1,361,000. Tallon Kerry Patrick bought a new stake in Tesla during the fourth quarter valued at about $374,000. Wedge Capital Management L L P NC raised its holdings in Tesla by 27.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 3,164 shares of the electric vehicle producer's stock valued at $1,278,000 after acquiring an additional 675 shares during the period. Finally, Whitener Capital Management Inc. bought a new stake in Tesla during the fourth quarter valued at about $230,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,623 shares of company stock worth $115,600,501. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TSLA shares. Roth Mkm cut their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Finally, Piper Sandler set a $400.00 price target on Tesla in a research report on Tuesday, May 6th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $289.43.

Tesla Stock Performance

Tesla stock opened at $342.09 on Tuesday. The firm has a 50 day simple moving average of $269.23 and a 200-day simple moving average of $331.30. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 167.69, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

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 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 7.26% and a return on equity of 10.31%. During the same quarter last year, the business posted $0.45 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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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