Tesla, Inc. $TSLA Stake Increased by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,174 shares of the electric vehicle producer’s stock after purchasing an additional 4,801 shares during the quarter. Tesla comprises 1.5% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 8th biggest position. IFM Investors Pty Ltd’s holdings in Tesla were worth $141,287,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TSLA. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new position in shares of Tesla during the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC grew its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Amundi grew its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 0.2%

Tesla stock opened at $346.97 on Wednesday. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 200.56, a price-to-earnings-growth ratio of 12.08 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The business’s fifty day simple moving average is $325.50 and its two-hundred day simple moving average is $302.26.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Robert W. Baird restated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Mizuho reduced their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Benchmark restated a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $303.00.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,606 shares of company stock worth $49,581,812. 20.70% of the stock is owned by insiders.

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.