Central Asset Investments & Management Holdings HK Ltd Takes $8.74 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,630 shares of the electric vehicle producer’s stock, valued at approximately $8,735,000. Tesla makes up 5.4% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC lifted its position in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Wednesday, February 12th. Wedbush set a $302.80 target price on shares of Tesla in a report on Wednesday. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $318.77.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $293.33 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $943.49 billion, a price-to-earnings ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The business has a 50 day simple moving average of $385.35 and a 200-day simple moving average of $315.95.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.