Caitong International Asset Management Co. Ltd Has $6.94 Million Position in Tesla, Inc. $TSLA

Caitong International Asset Management Co. Ltd raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,851 shares of the electric vehicle producer’s stock after purchasing an additional 4,133 shares during the quarter. Tesla accounts for about 5.0% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 3rd largest position. Caitong International Asset Management Co. Ltd’s holdings in Tesla were worth $6,941,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Tesla by 1.5% during the first 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. Goldman Sachs Group Inc. raised its stake in shares of Tesla by 322.1% in the first 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 acquiring an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi raised its stake in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after acquiring an additional 2,211,300 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.3%

NASDAQ TSLA opened at $448.98 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 299.32, a price-to-earnings-growth ratio of 15.78 and a beta of 2.08. The company’s 50-day simple moving average is $396.00 and its two-hundred day simple moving average is $338.45. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. HSBC raised their price target on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $380.97.

Tesla Company 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.