ABN Amro Investment Solutions Makes New Investment in Tesla, Inc. $TSLA

ABN Amro Investment Solutions acquired a new position in Tesla, Inc. (NASDAQ:TSLAFree Report) in the third quarter, HoldingsChannel reports. The firm acquired 26,748 shares of the electric vehicle producer’s stock, valued at approximately $11,895,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC lifted its position in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Norges Bank purchased a new position in shares of Tesla in the second quarter worth $11,839,824,000. Legal & General Group Plc raised its holdings in Tesla by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after buying an additional 1,134,678 shares during the last quarter. Finally, Amundi boosted its position in Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after buying an additional 3,422,270 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Tesla Stock Up 0.1%

Shares of Tesla stock opened at $417.44 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 386.52, a PEG ratio of 14.13 and a beta of 1.86. The company has a 50-day moving average of $444.24 and a 200 day moving average of $414.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director directly owned 577,031 shares in the company, valued at approximately $257,009,607.40. This represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 119,457 shares of company stock worth $53,501,145. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, January 29th. Stifel Nicolaus set a $508.00 price target on Tesla in a report on Thursday, January 29th. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a report on Thursday, January 29th. Piper Sandler reiterated an “overweight” rating on shares of Tesla in a research report on Thursday, January 29th. Finally, Mizuho set a $540.00 target price on Tesla and gave the company an “outperform” rating in a report on Thursday, January 29th. Eighteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $408.09.

Get Our Latest Stock Report on TSLA

About Tesla

(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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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