Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by AIA Group Ltd

AIA Group Ltd increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,754 shares of the electric vehicle producer’s stock after purchasing an additional 2,484 shares during the period. AIA Group Ltd’s holdings in Tesla were worth $13,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Norges Bank acquired a new stake in Tesla during the fourth quarter worth approximately $7,844,757,000. International Assets Investment Management LLC lifted its stake in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

TSLA traded up $7.20 during trading on Friday, reaching $248.23. The stock had a trading volume of 155,698,751 shares, compared to its average volume of 100,049,766. The stock has a 50 day moving average of $192.75 and a two-hundred day moving average of $191.73. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $791.66 billion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 6.58 and a beta of 2.31. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities analysts anticipate that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TSLA shares. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. Truist Financial restated a “hold” rating and set a $162.00 price target on shares of Tesla in a research note on Wednesday, July 3rd. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 target price on shares of Tesla in a research report on Monday, July 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $201.58.

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.