Tesla, Inc. $TSLA Position Increased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1,823.0% in the 2nd quarter, Holdings Channel reports. The firm owned 68,325 shares of the electric vehicle producer’s stock after purchasing an additional 64,772 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Tesla were worth $21,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter worth about $27,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Centennial Bank AR grew its position in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Tesla during the second quarter worth about $29,000. Finally, Compass Wealth Management LLC grew its position in shares of Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $452.42 on Tuesday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 301.61, a PEG ratio of 15.45 and a beta of 2.08. The firm has a 50-day moving average of $400.41 and a two-hundred day moving average of $342.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the company earned $0.72 EPS. Tesla’s revenue was up 11.6% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on TSLA shares. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Canaccord Genuity Group decreased their target price on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Truist Financial increased their target price on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $381.00.

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.