Nan Shan Life Insurance Co. Ltd. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 89.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,294 shares of the electric vehicle producer's stock after selling 60,111 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in Tesla were worth $2,946,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
Insider Buying and Selling at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, May 9th. The shares were sold at an average price of $300.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $8,085,000. The trade was a 12.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company's stock.
Tesla Price Performance
Shares of TSLA stock traded down $4.86 on Thursday, hitting $342.82. 97,570,410 shares of the stock traded hands, compared to its average volume of 96,864,663. The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 168.05, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The firm has a 50 day simple moving average of $264.96 and a two-hundred day simple moving average of $328.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Canaccord Genuity Group dropped their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Glj Research restated a "sell" rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $287.46.
Read Our Latest Report on TSLA
Tesla Profile
(
Free Report)
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.
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