E Fund Management Hong Kong Co. Ltd. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 486.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 692 shares of the electric vehicle producer’s stock after buying an additional 574 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Tesla were worth $179,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TSLA. Blackston Financial Advisory Group LLC lifted its stake in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after buying an additional 27 shares in the last quarter. Kooman & Associates raised its holdings in Tesla by 2.4% in the 4th quarter. Kooman & Associates now owns 1,188 shares of the electric vehicle producer’s stock valued at $480,000 after acquiring an additional 28 shares during the last quarter. Rinkey Investments lifted its stake in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares in the last quarter. New England Capital Financial Advisors LLC boosted its holdings in shares of Tesla by 2.6% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,195 shares of the electric vehicle producer’s stock worth $483,000 after purchasing an additional 30 shares during the last quarter. Finally, Ndwm LLC grew its position in shares of Tesla by 0.8% in the fourth quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer’s stock valued at $1,439,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Royal Bank Of Canada dropped their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Roth Mkm cut their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Raymond James Financial lowered shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $294.58.

Tesla Price Performance

Tesla stock opened at $340.47 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The firm has a market cap of $1.10 trillion, a PE ratio of 187.07, a price-to-earnings-growth ratio of 13.04 and a beta of 2.47. The company’s 50 day moving average is $309.87 and its two-hundred day moving average is $331.48.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the company posted $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the transaction, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. The trade was a 30.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

About Tesla

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.