Tesla, Inc. $TSLA Shares Acquired by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. raised its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 766.3% during the third quarter, Holdings Channel reports. The institutional investor owned 5,839 shares of the electric vehicle producer’s stock after buying an additional 5,165 shares during the period. Tesla makes up about 1.6% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 15th largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Tesla were worth $2,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Chapman Financial Group LLC purchased a new position in Tesla in the second quarter valued at approximately $26,000. LGT Financial Advisors LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $29,000. CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 2nd quarter valued at $30,000. ESL Trust Services LLC raised its stake in Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 95 shares in the last quarter. Finally, Delos Wealth Advisors LLC purchased a new stake in Tesla in the second quarter valued at $32,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at $257,009,607.40. The trade was a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,457 shares of company stock worth $53,501,145 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

Tesla Trading Up 2.1%

Shares of Tesla stock opened at $445.01 on Friday. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 296.67, a price-to-earnings-growth ratio of 7.01 and a beta of 1.83. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $498.83. The company’s 50-day simple moving average is $444.28 and its 200-day simple moving average is $394.74. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a report on Monday, November 17th. BNP Paribas Exane started coverage on Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective for the company. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research report on Monday, October 13th. UBS Group reiterated a “sell” rating and issued a $247.00 price target on shares of Tesla in a research report on Monday, January 5th. Finally, Benchmark reiterated a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $408.54.

Get Our Latest Report on TSLA

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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