Tesla, Inc. (NASDAQ:TSLA) Position Trimmed by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 175,568 shares of the electric vehicle producer's stock after selling 12,950 shares during the period. Tesla makes up approximately 10.4% of Taikang Asset Management Hong Kong Co Ltd's portfolio, making the stock its biggest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Tesla were worth $70,901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management increased its position in shares of Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC lifted its holdings in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after acquiring an additional 891 shares during the period. Vinva Investment Management Ltd boosted its position in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. 66.20% of the stock is owned by institutional investors.

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Tesla Trading Up 3.4 %

TSLA traded up $9.56 during midday trading on Tuesday, reaching $287.95. 148,758,365 shares of the company's stock traded hands, compared to its average volume of 91,639,279. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a fifty day moving average of $332.69 and a two-hundred day moving average of $321.49. The stock has a market capitalization of $926.20 billion, a price-to-earnings ratio of 141.15, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Piper Sandler lowered their target price on Tesla from $500.00 to $450.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Glj Research reissued a "buy" rating on shares of Tesla in a research report on Tuesday, March 11th. Barclays lifted their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 15th. Finally, Roth Mkm raised Tesla from a "neutral" rating to a "buy" rating and increased their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $318.93.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated 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 $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company's stock.

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.