AIA Group Ltd Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

AIA Group Ltd grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,374 shares of the electric vehicle producer’s stock after purchasing an additional 7,655 shares during the quarter. AIA Group Ltd’s holdings in Tesla were worth $21,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter worth $25,000. Clean Yield Group increased its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth $26,000. Finally, M&R Capital Management Inc. increased its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 over the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $296.91 on Friday. The firm has a market capitalization of $953.10 billion, a P/E ratio of 81.35, a P/E/G ratio of 9.51 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.75. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $237.23 and its two-hundred day moving average is $213.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus upped their target price on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Argus reaffirmed a “buy” rating and set a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $222.03.

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.