DNB Asset Management AS Raises Stock Holdings in Tesla, Inc. $TSLA

DNB Asset Management AS lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 26.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 807,978 shares of the electric vehicle producer’s stock after acquiring an additional 166,531 shares during the period. Tesla accounts for about 1.3% of DNB Asset Management AS’s holdings, making the stock its 12th biggest position. DNB Asset Management AS’s holdings in Tesla were worth $359,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Chapman Financial Group LLC acquired a new position in Tesla in the second quarter valued at $26,000. Manning & Napier Advisors LLC purchased a new position in shares of Tesla during the third quarter worth about $29,000. CoreFirst Bank & Trust acquired a new position in Tesla in the 2nd quarter valued at about $30,000. ESL Trust Services LLC raised its stake in Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 95 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in Tesla during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $408.58 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. The stock has a market cap of $1.53 trillion, a PE ratio of 378.31, a P/E/G ratio of 14.75 and a beta of 1.86. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83. The stock has a fifty day moving average price of $435.03 and a 200 day moving average price of $419.99.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The business had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The business’s revenue was down 3.1% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on TSLA. Piper Sandler reissued an “overweight” rating on shares of Tesla in a report on Thursday, January 29th. HSBC reissued a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Glj Research restated a “sell” rating on shares of Tesla in a research note on Tuesday. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Tesla in a research note on Thursday, January 29th. Finally, China Renaissance lifted their price objective on Tesla from $380.00 to $382.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Eighteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $408.09.

Check Out Our Latest Research Report on Tesla

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction 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. This represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 119,457 shares of company stock worth $53,501,145. Insiders own 19.90% of the company’s stock.

Key Headlines Impacting Tesla

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Tesla Profile

(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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