UniSuper Management Pty Ltd Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

UniSuper Management Pty Ltd reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 45.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,912 shares of the electric vehicle producer's stock after selling 251,066 shares during the quarter. Tesla comprises approximately 0.9% of UniSuper Management Pty Ltd's investment portfolio, making the stock its 16th biggest holding. UniSuper Management Pty Ltd's holdings in Tesla were worth $120,713,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TSLA. World Investment Advisors LLC raised its stake in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management increased its holdings 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 in the last quarter. Stephens Consulting LLC raised its position in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in Tesla by 59.2% in the 3rd 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 in the last quarter. Finally, MML Investors Services LLC grew its position in Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock worth $80,944,000 after purchasing an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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Tesla Price Performance

TSLA stock traded down $9.58 during midday trading on Friday, reaching $263.55. The stock had a trading volume of 123,100,723 shares, compared to its average volume of 93,218,015. Tesla, Inc. has a 52-week low of $138.80 and a 52-week 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's fifty day simple moving average is $321.33 and its 200 day simple moving average is $321.68. The company has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Canaccord Genuity Group reiterated a "buy" rating and set a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Morgan Stanley reduced their price objective on Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $318.34.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.