Tesla, Inc. $TSLA Shares Purchased by DNB Asset Management AS

DNB Asset Management AS raised its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 26.0% during the third quarter, Holdings Channel.com reports. The firm owned 807,978 shares of the electric vehicle producer’s stock after buying an additional 166,531 shares during the period. Tesla accounts for about 1.3% of DNB Asset Management AS’s holdings, making the stock its 12th largest holding. DNB Asset Management AS’s holdings in Tesla were worth $359,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Tesla in the 2nd quarter valued at $11,839,824,000. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the last quarter. Amundi increased its stake in Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. Jennison Associates LLC lifted its position in Tesla by 38.3% during the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock worth $4,851,747,000 after buying an additional 3,021,550 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Truist Financial dropped their price objective on shares of Tesla from $439.00 to $438.00 and set a “hold” rating for the company in a research note on Thursday, January 29th. TD Cowen upped their price target on shares of Tesla from $509.00 to $519.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Morgan Stanley set a $415.00 price target on shares of Tesla and gave the company an “equal weight” rating in a report on Thursday, January 29th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, January 29th. Finally, Mizuho set a $540.00 target price on Tesla and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Eighteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $408.09.

Get Our Latest Stock Analysis on Tesla

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 56,820 shares of Tesla 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 sale, the director directly owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 119,457 shares of company stock valued at $53,501,145 over the last 90 days. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Down 2.1%

NASDAQ:TSLA opened at $408.58 on Friday. The business’s 50-day moving average is $435.03 and its two-hundred day moving average is $419.99. The firm has a market capitalization of $1.53 trillion, a PE ratio of 378.31, a price-to-earnings-growth ratio of 14.75 and a beta of 1.86. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83. 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 issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

Tesla 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.

Featured Stories

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAFree Report).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.