E Fund Management Co. Ltd. Sells 6,346 Shares of Tesla, Inc. (NASDAQ:TSLA)

E Fund Management Co. Ltd. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,500 shares of the electric vehicle producer's stock after selling 6,346 shares during the quarter. Tesla comprises 0.4% of E Fund Management Co. Ltd.'s holdings, making the stock its 23rd largest holding. E Fund Management Co. Ltd.'s holdings in Tesla were worth $7,082,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC grew its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock valued at $34,000 after buying an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. lifted its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer's stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new position in shares of Tesla in the third quarter worth $53,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TSLA shares. Barclays reduced their price target on shares of Tesla from $225.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 17th. Roth Mkm restated a "neutral" rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. TD Cowen dropped their price target on Tesla from $200.00 to $180.00 and set a "market perform" rating for the company in a research report on Thursday, January 25th. Morgan Stanley decreased their price objective on shares of Tesla from $320.00 to $310.00 and set an "overweight" rating on the stock in a research report on Thursday, April 4th. Finally, Royal Bank of Canada decreased their target price on shares of Tesla from $294.00 to $293.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $185.90.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 302,803 shares of company stock valued at $56,124,840 over the last 90 days. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock traded down $2.75 during trading hours on Thursday, reaching $171.97. 65,507,266 shares of the company traded hands, compared to its average volume of 103,423,250. The firm has a 50-day moving average price of $172.57 and a 200 day moving average price of $204.11. The company has a market cap of $548.45 billion, a P/E ratio of 43.87, a P/E/G ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

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.

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