AIA Group Ltd Buys 43,022 Shares of Tesla, Inc. $TSLA

AIA Group Ltd raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 35.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,316 shares of the electric vehicle producer’s stock after purchasing an additional 43,022 shares during the period. Tesla makes up approximately 1.3% of AIA Group Ltd’s holdings, making the stock its 12th biggest position. AIA Group Ltd’s holdings in Tesla were worth $73,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Chapman Financial Group LLC bought a new stake in shares of Tesla in the second quarter valued at about $26,000. Manning & Napier Advisors LLC acquired a new stake in Tesla during the third quarter worth about $29,000. CoreFirst Bank & Trust bought a new position in Tesla during the second quarter valued at about $30,000. Turning Point Benefit Group Inc. acquired a new position in Tesla in the 3rd quarter valued at approximately $30,000. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of Tesla in the 3rd quarter worth approximately $31,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $380.24 on Friday. The business has a fifty day moving average of $416.30 and a 200-day moving average of $426.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $498.83. The firm has a market cap of $1.43 trillion, a PE ratio of 352.07, a price-to-earnings-growth ratio of 11.61 and a beta of 1.89.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. The business had revenue of $24.90 billion for the quarter, compared to analysts’ expectations of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. Tesla’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. DZ Bank restated a “sell” rating on shares of Tesla in a research report on Thursday, January 29th. Bank of America started coverage on shares of Tesla in a report on Wednesday, March 4th. They set a “buy” rating and a $460.00 price objective for the company. Barclays reaffirmed a “neutral” rating on shares of Tesla in a research note on Wednesday, March 4th. Wedbush reiterated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Thursday, January 29th. Finally, Benchmark restated a “buy” rating on shares of Tesla in a research note on Wednesday, February 11th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $406.84.

Read Our Latest Research Report on TSLA

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,264 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $7,188,625.18. This trade represents a 11.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the sale, the director directly owned 577,031 shares of the company’s stock, valued at $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 87,995 shares of company stock valued at $38,315,650. 19.90% of the stock is currently owned by corporate insiders.

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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