LGT Fund Management Co Ltd. Invests $454,000 in Tesla, Inc. (NASDAQ:TSLA)

LGT Fund Management Co Ltd. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, Holdings Channel reports. The fund acquired 1,123 shares of the electric vehicle producer’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC increased its holdings in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after buying an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 purchasing an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 403,996 shares of company stock worth $153,721,387. 20.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Morgan Stanley reiterated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research report on Monday. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Evercore ISI raised their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $318.77.

Tesla Trading Down 2.8 %

NASDAQ:TSLA opened at $284.65 on Tuesday. The stock has a market cap of $915.58 billion, a PE ratio of 139.53, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s 50-day moving average is $382.44 and its two-hundred day moving average is $318.01. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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

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.