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AustralianSuper Pty Ltd decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 99.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,606 shares of the electric vehicle producer’s stock after selling 802,376 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Tesla were worth $1,860,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Tesla in the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter valued at $46,000. PayPay Securities Corp lifted its stake in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Insider Buying and Selling at Tesla
In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last quarter. Corporate insiders own 20.70% of the company’s stock.
Tesla Trading Down 0.0 %
Shares of NASDAQ:TSLA opened at $355.84 on Tuesday. The company has a market cap of $1.14 trillion, a PE ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34. The company’s 50-day moving average price is $406.31 and its 200 day moving average price is $308.78. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current year.
Analysts Set New Price Targets
TSLA has been the subject of several research reports. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group increased their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Guggenheim reissued a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and upped their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, Mizuho restated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $326.50.
Read Our Latest Stock Analysis on Tesla
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.
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