E Fund Management Hong Kong Co. Ltd. Raises Stock Holdings in Tesla, Inc. $TSLA

E Fund Management Hong Kong Co. Ltd. grew its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 766.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,839 shares of the electric vehicle producer’s stock after buying an additional 5,165 shares during the quarter. Tesla accounts for 1.6% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 15th largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Tesla were worth $2,597,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. New Century Financial Group LLC acquired a new stake in shares of Tesla in the third quarter valued at about $230,000. Sather Financial Group Inc lifted its stake in Tesla by 4.4% in the 3rd quarter. Sather Financial Group Inc now owns 1,764 shares of the electric vehicle producer’s stock valued at $784,000 after buying an additional 75 shares in the last quarter. Kelly Financial Group LLC acquired a new stake in Tesla in the 3rd quarter worth about $259,000. WP Advisors LLC increased its stake in Tesla by 31.5% during the 3rd quarter. WP Advisors LLC now owns 3,343 shares of the electric vehicle producer’s stock worth $1,487,000 after buying an additional 800 shares in the last quarter. Finally, Investment Advisory Services Inc. TX ADV acquired a new position in shares of Tesla during the third quarter valued at approximately $262,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the transaction, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the sale, the director owned 577,031 shares in the company, valued at approximately $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,457 shares of company stock worth $53,501,145 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. China Renaissance increased their price objective on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a research report on Monday, January 5th. Mizuho upped their price objective on shares of Tesla from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Tuesday, December 16th. President Capital cut their price objective on shares of Tesla from $529.00 to $517.00 and set a “buy” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Tesla from $400.00 to $420.00 in a research note on Friday, January 2nd. One investment 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. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $408.54.

Read Our Latest Research Report on TSLA

Tesla Stock Up 2.1%

Shares of NASDAQ:TSLA opened at $445.01 on Friday. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 296.67, a PEG ratio of 7.01 and a beta of 1.83. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83. The business has a 50-day moving average price of $444.28 and a 200 day moving average price of $394.74. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLAGet Free Report) last announced its 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. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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