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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
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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