ING Groep NV Buys Shares of 220,193 Tesla, Inc. (NASDAQ:TSLA)

ING Groep NV bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 220,193 shares of the electric vehicle producer's stock, valued at approximately $57,609,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth about $29,000. Finally, Clean Yield Group lifted its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on 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 trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 over the last ninety days. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Guggenheim boosted their price objective on Tesla from $153.00 to $156.00 and gave the stock a "sell" rating in a research note on Thursday, October 24th. Citigroup dropped their target price on Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Finally, Phillip Securities raised Tesla to a "moderate sell" rating in a research report on Friday, October 25th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and an average price target of $228.24.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $19.06 during midday trading on Thursday, hitting $311.18. 119,970,818 shares of the company's stock were exchanged, compared to its average volume of 95,937,266. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock's 50 day moving average price is $248.48 and its 200-day moving average price is $218.94. The firm has a market cap of $998.91 billion, a P/E ratio of 87.07, a PEG ratio of 10.67 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The firm 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 firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

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.