E Fund Management Hong Kong Co. Ltd. decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 44.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118 shares of the electric vehicle producer’s stock after selling 96 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Tesla were worth $48,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at approximately $29,000. Clean Yield Group raised its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at $35,000. M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Quarry LP acquired a new stake in shares of Tesla during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Price Performance
TSLA stock opened at $389.10 on Thursday. The business has a 50 day simple moving average of $401.04 and a 200-day simple moving average of $296.63. The company has a market capitalization of $1.25 trillion, a P/E ratio of 106.60, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.
Insider Activity at Tesla
In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 in the last quarter. Company insiders own 20.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on TSLA shares. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group raised their price target on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $313.84.
View Our Latest Analysis on TSLA
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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