AIA Group Ltd Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

AIA Group Ltd grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,226 shares of the electric vehicle producer's stock after purchasing an additional 22,852 shares during the quarter. Tesla makes up about 1.0% of AIA Group Ltd's holdings, making the stock its 23rd largest position. AIA Group Ltd's holdings in Tesla were worth $42,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank bought a new stake in Tesla in the 3rd quarter worth about $287,000. Quantbot Technologies LP purchased a new stake in Tesla in the 3rd quarter valued at about $687,000. Hantz Financial Services Inc. lifted its position in shares of Tesla by 9.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 721 shares in the last quarter. Finally, Kitching Partners LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded up $9.30 on Tuesday, hitting $268.46. 145,757,545 shares of the company traded hands, compared to its average volume of 93,590,667. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $863.51 billion, a P/E ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50. The firm's 50-day simple moving average is $317.98 and its 200 day simple moving average is $323.21.

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Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore ISI boosted their price objective on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research report on Friday, January 3rd. Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Glj Research reaffirmed a "buy" rating on shares of Tesla in a research report on Tuesday, March 11th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, New Street Research upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $317.75.

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.