Neumann Advisory Hong Kong Ltd Has $297.34 Million Holdings in Tesla, Inc. $TSLA

Neumann Advisory Hong Kong Ltd lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 668,608 shares of the electric vehicle producer’s stock after selling 5,000 shares during the quarter. Tesla comprises approximately 75.6% of Neumann Advisory Hong Kong Ltd’s holdings, making the stock its largest holding. Neumann Advisory Hong Kong Ltd’s holdings in Tesla were worth $297,343,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Tesla during the 2nd quarter worth about $11,839,824,000. Kingstone Capital Partners Texas LLC raised its position in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Vanguard Group Inc. boosted its stake in Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Amundi grew its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Caxton Associates LLP bought a new stake in Tesla in the first quarter valued at approximately $469,339,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. This represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Benchmark reissued a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of Tesla in a research note on Monday, November 17th. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. DZ Bank restated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Truist Financial lifted their price objective on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell 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 $402.25.

Tesla Trading Up 3.4%

NASDAQ TSLA opened at $483.37 on Friday. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $495.28. 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 stock has a 50 day moving average of $438.62 and a 200-day moving average of $379.59. The company has a market cap of $1.61 trillion, a PE ratio of 322.25, a PEG ratio of 11.68 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.