Royal London Asset Management Ltd. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Royal London Asset Management Ltd. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,304,335 shares of the electric vehicle producer’s stock after buying an additional 54,519 shares during the period. Tesla accounts for about 0.8% of Royal London Asset Management Ltd.’s holdings, making the stock its 19th largest holding. Royal London Asset Management Ltd.’s holdings in Tesla were worth $341,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Vinva Investment Management Ltd lifted its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management raised its holdings in Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the period. Fred Alger Management LLC raised its holdings in Tesla by 187.0% in the 3rd quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock worth $189,756,000 after purchasing an additional 472,565 shares during the period. Finally, Savvy Advisors Inc. raised its holdings in Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSLA shares. Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $380.00 in a research note on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $243.75.

Tesla Stock Up 1.9 %

Tesla stock opened at $357.93 on Thursday. The business has a fifty day moving average of $280.65 and a two-hundred day moving average of $235.96. The firm has a market cap of $1.15 trillion, a P/E ratio of 98.06, a P/E/G ratio of 11.41 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.93.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 420,577 shares of company stock valued at $135,230,506 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Profile

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.