Ninety One UK Ltd Buys 76,815 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ninety One UK Ltd increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,384,450 shares of the electric vehicle producer’s stock after acquiring an additional 76,815 shares during the period. Tesla accounts for 1.0% of Ninety One UK Ltd’s holdings, making the stock its 29th largest position. Ninety One UK Ltd’s holdings in Tesla were worth $358,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of TSLA. Norges Bank bought a new position in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 829,509 shares of company stock valued at $277,648,925. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. JPMorgan Chase & Co. dropped their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Glj Research restated a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Oppenheimer restated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. HSBC restated a “reduce” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada decreased their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $301.60.

Tesla Stock Performance

Shares of Tesla stock opened at $293.94 on Tuesday. The firm has a market cap of $946.77 billion, a price-to-earnings ratio of 161.51, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The stock’s 50-day moving average is $321.10 and its 200-day moving average is $323.46. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm earned $0.45 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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.