China Universal Asset Management Co. Ltd. Lowers Stake in Tesla, Inc. $TSLA

China Universal Asset Management Co. Ltd. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,569 shares of the electric vehicle producer’s stock after selling 9,479 shares during the quarter. Tesla comprises about 1.3% of China Universal Asset Management Co. Ltd.’s portfolio, making the stock its 13th biggest position. China Universal Asset Management Co. Ltd.’s holdings in Tesla were worth $14,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Holos Integrated Wealth LLC grew its stake in Tesla by 10.8% in the second quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock valued at $102,000 after purchasing an additional 30 shares during the last quarter. First Merchants Corp boosted its holdings in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares in the last quarter. Kaye Capital Management grew its position in shares of Tesla by 3.1% in the 2nd quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock worth $333,000 after buying an additional 31 shares during the last quarter. Spectrum Wealth Advisory Group LLC raised its stake in shares of Tesla by 3.4% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock worth $299,000 after acquiring an additional 31 shares in the last quarter. Finally, Wambolt & Associates LLC lifted its position in Tesla by 1.0% during the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock valued at $938,000 after acquiring an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 2.7%

Shares of NASDAQ:TSLA opened at $458.96 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. The business has a 50-day moving average price of $435.52 and a 200-day moving average price of $376.42.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Truist Financial upped their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Mizuho set a $475.00 price target on Tesla and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Finally, Glj Research restated a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $399.33.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. The trade was a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

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.