AustralianSuper Pty Ltd Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

AustralianSuper Pty Ltd grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11,458.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 806,982 shares of the electric vehicle producer’s stock after buying an additional 800,000 shares during the period. Tesla accounts for about 1.1% of AustralianSuper Pty Ltd’s holdings, making the stock its 24th largest holding. AustralianSuper Pty Ltd’s holdings in Tesla were worth $211,131,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc lifted its holdings in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Tesla by 34.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Tesla in the 1st quarter valued at about $1,941,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 2.1 %

Shares of TSLA stock traded down $5.38 on Thursday, reaching $252.17. 25,008,223 shares of the stock were exchanged, compared to its average volume of 94,155,555. The stock has a market cap of $809.48 billion, a P/E ratio of 69.77, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $232.78 and a two-hundred day moving average of $209.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock worth $3,065,866 in the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. JPMorgan Chase & Co. boosted their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Citigroup dropped their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Barclays boosted their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $219.45.

About Tesla

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.