IFM Investors Pty Ltd Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

IFM Investors Pty Ltd boosted its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 23.3% during the first quarter, HoldingsChannel reports. The fund owned 136,624 shares of the electric vehicle producer’s stock after buying an additional 25,839 shares during the quarter. Tesla comprises 2.3% of IFM Investors Pty Ltd’s holdings, making the stock its 4th biggest position. IFM Investors Pty Ltd’s holdings in Tesla were worth $147,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Futures Ltd Liability Co. purchased a new position in Tesla during the 4th quarter valued at about $291,000. Curi Wealth Management LLC purchased a new position in Tesla during the 4th quarter valued at about $98,000. Sound Income Strategies LLC grew its holdings in Tesla by 7.2% during the 1st quarter. Sound Income Strategies LLC now owns 850 shares of the electric vehicle producer’s stock valued at $916,000 after buying an additional 57 shares in the last quarter. Pinnacle Wealth Management LLC purchased a new position in Tesla during the 4th quarter valued at about $2,749,000. Finally, Flagship Harbor Advisors LLC grew its holdings in Tesla by 4.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 16,195 shares of the electric vehicle producer’s stock valued at $17,452,000 after buying an additional 763 shares in the last quarter. 40.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $722.10, for a total value of $2,527,350.00. Following the sale, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at $14,541,649.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $722.10, for a total value of $2,527,350.00. Following the sale, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at $14,541,649.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Vaibhav Taneja sold 1,518 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $1,090,394.58. Following the completion of the sale, the chief accounting officer now directly owns 26,449 shares in the company, valued at $18,998,581.19. The disclosure for this sale can be found here. Insiders have sold a total of 39,989 shares of company stock valued at $30,073,729 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada raised Tesla from a “sector perform” rating to an “outperform” rating and cut their price objective for the stock from $1,175.00 to $1,100.00 in a report on Monday, June 13th. Tudor, Pickering, Holt & Co. raised Tesla from a “sell” rating to a “hold” rating in a report on Tuesday, May 17th. Wedbush cut their price objective on Tesla from $1,400.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Mizuho boosted their price objective on Tesla from $1,150.00 to $1,175.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Finally, Oppenheimer boosted their price objective on Tesla from $1,103.00 to $1,291.00 and gave the stock an “outperform” rating in a report on Thursday, April 21st. Eight investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $858.05.

Tesla Price Performance

Shares of TSLA stock opened at $891.45 on Monday. The stock has a market cap of $931.11 billion, a price-to-earnings ratio of 107.40, a PEG ratio of 2.49 and a beta of 2.11. The business’s fifty day moving average is $722.13 and its 200 day moving average is $844.27. Tesla, Inc. has a twelve month low of $620.57 and a twelve month high of $1,243.49. The company has a quick ratio of 1.06, a current ratio of 1.43 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.46. The company had revenue of $16.93 billion for the quarter, compared to analysts’ expectations of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. Research analysts expect that Tesla, Inc. will post 10.37 EPS for the current fiscal year.

Tesla Company Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAGet Rating).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.