Tesla, Inc. (NASDAQ:TSLA) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,851,616 shares of the electric vehicle producer’s stock after selling 369,573 shares during the quarter. Tesla comprises approximately 1.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings, making the stock its 8th largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Tesla worth $748,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MJP Associates Inc. ADV increased its holdings in Tesla by 14.3% in the 4th quarter. MJP Associates Inc. ADV now owns 5,527 shares of the electric vehicle producer’s stock valued at $2,232,000 after buying an additional 690 shares during the period. Lazard Asset Management LLC increased its holdings in Tesla by 45.5% in the 4th quarter. Lazard Asset Management LLC now owns 236,938 shares of the electric vehicle producer’s stock valued at $95,684,000 after buying an additional 74,046 shares during the period. Leigh Baldwin & CO. LLC bought a new stake in Tesla in the 4th quarter valued at $601,138,000. Logan Capital Management Inc. increased its holdings in Tesla by 50.8% in the 4th quarter. Logan Capital Management Inc. now owns 395 shares of the electric vehicle producer’s stock valued at $160,000 after buying an additional 133 shares during the period. Finally, LRI Investments LLC grew its holdings in shares of Tesla by 26.4% in the 4th quarter. LRI Investments LLC now owns 1,670 shares of the electric vehicle producer’s stock worth $675,000 after purchasing an additional 349 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,623 shares of company stock valued at $114,400,501 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 4.6%

Shares of TSLA opened at $298.05 on Monday. The business’s 50-day moving average price is $258.65 and its 200-day moving average price is $327.89. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock has a market cap of $960.01 billion, a PE ratio of 146.10, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the business earned $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. Morgan Stanley reiterated a “buy” rating and set a $430.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. UBS Group dropped their target price on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Canaccord Genuity Group lowered their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Glj Research restated a “sell” rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $287.46.

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.