Point72 Hong Kong Ltd Has $4.26 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

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Point72 Hong Kong Ltd boosted its position in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 1,240.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,600 shares of the electric vehicle producer’s stock after purchasing an additional 32,019 shares during the period. Tesla accounts for about 1.4% of Point72 Hong Kong Ltd’s portfolio, making the stock its 15th biggest holding. Point72 Hong Kong Ltd’s holdings in Tesla were worth $4,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Tesla by 212.2% in the 3rd quarter. Vanguard Group Inc. now owns 213,024,517 shares of the electric vehicle producer’s stock valued at $56,504,752,000 after buying an additional 144,784,989 shares during the last quarter. State Street Corp raised its stake in shares of Tesla by 213.5% during the third quarter. State Street Corp now owns 99,647,239 shares of the electric vehicle producer’s stock valued at $26,431,430,000 after acquiring an additional 67,859,515 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 49,109,751 shares of the electric vehicle producer’s stock worth $6,037,981,000 after purchasing an additional 1,614,023 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Tesla by 229.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 46,956,884 shares of the electric vehicle producer’s stock worth $12,493,433,000 after purchasing an additional 32,723,798 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after purchasing an additional 13,558,882 shares during the period. 43.00% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 2.2 %

NASDAQ TSLA opened at $249.83 on Tuesday. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $314.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.04 and a current ratio of 1.57. The stock has a 50 day simple moving average of $184.55 and a two-hundred day simple moving average of $174.43. The stock has a market cap of $791.84 billion, a P/E ratio of 73.48, a price-to-earnings-growth ratio of 3.28 and a beta of 2.00.

Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $23.33 billion during the quarter, compared to analysts’ expectations of $23.36 billion. Tesla had a return on equity of 27.29% and a net margin of 13.66%. The business’s revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. On average, analysts forecast that Tesla, Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Tudor Pickering lowered Tesla from a “hold” rating to a “sell” rating in a research report on Thursday, April 20th. StockNews.com started coverage on Tesla in a report on Thursday, May 18th. They set a “hold” rating for the company. Berenberg Bank cut Tesla from a “buy” rating to a “hold” rating and raised their target price for the stock from $200.00 to $210.00 in a research note on Wednesday, March 8th. Jefferies Financial Group lowered Tesla from a “buy” rating to a “hold” rating and dropped their price target for the company from $230.00 to $185.00 in a research note on Tuesday, April 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Tesla from $190.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, April 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $200.11.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $152.44, for a total value of $1,600,620.00. Following the sale, the senior vice president now directly owns 65,547 shares of the company’s stock, valued at $9,991,984.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $152.44, for a total value of $1,600,620.00. Following the completion of the transaction, the senior vice president now owns 65,547 shares in the company, valued at $9,991,984.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 1,298 shares of Tesla stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $215.51, for a total transaction of $279,731.98. Following the transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at $14,403,395.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,230 shares of company stock valued at $28,446,207. Corporate insiders own 20.90% of the company’s stock.

About Tesla

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.

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