M&G Investment Management Ltd. Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

M&G Investment Management Ltd. raised its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 180.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,689 shares of the electric vehicle producer’s stock after buying an additional 4,947 shares during the quarter. M&G Investment Management Ltd.’s holdings in Tesla were worth $2,038,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its stake in shares of Tesla by 196.4% in the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after purchasing an additional 18,472,529 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Tesla by 10.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock valued at $9,584,845,000 after purchasing an additional 1,317,687 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tesla by 189.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock valued at $2,484,549,000 after purchasing an additional 6,125,732 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Tesla by 2.5% in the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock valued at $9,455,380,000 after purchasing an additional 216,282 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Tesla by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 5,418,585 shares of the electric vehicle producer’s stock valued at $3,648,999,000 after purchasing an additional 308,731 shares during the last quarter. 43.00% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 4.9 %

NASDAQ:TSLA opened at $133.42 on Friday. The stock’s 50 day moving average price is $150.72 and its 200 day moving average price is $222.02. The company has a market capitalization of $421.31 billion, a PE ratio of 41.22, a P/E/G ratio of 0.95 and a beta of 2.02. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29.

Tesla (NASDAQ:TSLAGet Rating) last announced its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the business posted $0.48 EPS. The company’s revenue was up 55.9% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 3.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSLA. Oppenheimer lowered Tesla from an “outperform” rating to a “market perform” rating in a research note on Monday, December 19th. Royal Bank of Canada decreased their target price on Tesla from $225.00 to $186.00 in a research note on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $250.00 to $220.00 in a research note on Thursday. Piper Sandler decreased their target price on Tesla from $340.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Guggenheim lowered Tesla from a “neutral” rating to a “sell” rating in a research note on Friday, January 13th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $218.29.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total value of $410,131.12. Following the transaction, the chief financial officer now directly owns 200,411 shares in the company, valued at approximately $21,906,926.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 1,312 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $233,627.84. Following the completion of the sale, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Kirkhorn sold 3,752 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the completion of the sale, the chief financial officer now directly owns 200,411 shares of the company’s stock, valued at $21,906,926.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is currently owned by insiders.

About Tesla

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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