IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 138.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,964 shares of the electric vehicle producer’s stock after purchasing an additional 19,113 shares during the quarter. Tesla accounts for approximately 1.0% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings, making the stock its 20th biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Tesla were worth $8,543,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in Tesla in the 4th quarter worth about $56,600,000. Means Investment CO. Inc. grew its stake in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. grew its stake in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the 4th quarter valued at about $8,158,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TSLA shares. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Royal Bank Of Canada restated an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group cut their price target on Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Finally, Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Performance

NASDAQ TSLA opened at $302.63 on Monday. The company has a market cap of $976.12 billion, a P/E ratio of 174.93, a P/E/G ratio of 10.63 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business’s 50 day moving average price is $322.22 and its 200-day moving average price is $310.31. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares of the company’s stock, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 719,119 shares of company stock worth $246,186,549. 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.