Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Prime Capital Management Co Ltd

Prime Capital Management Co Ltd decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 848,884 shares of the electric vehicle producer's stock after selling 407,364 shares during the period. Tesla comprises about 50.7% of Prime Capital Management Co Ltd's investment portfolio, making the stock its biggest position. Prime Capital Management Co Ltd's holdings in Tesla were worth $342,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock worth $115,600,501 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 2.1%

Tesla stock traded up $7.16 during trading hours on Friday, hitting $349.98. The company had a trading volume of 93,349,107 shares, compared to its average volume of 97,010,697. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.13 trillion, a P/E ratio of 171.56, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a 50-day moving average price of $267.35 and a two-hundred day moving average price of $329.59. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company earned $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Mizuho increased their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday. Piper Sandler set a $400.00 target price on Tesla in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Finally, Raymond James cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $289.43.

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.