MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Tesla, Inc. $TSLA

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,805,129 shares of the electric vehicle producer’s stock after purchasing an additional 147,526 shares during the quarter. Tesla comprises approximately 1.3% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings, making the stock its 11th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Tesla were worth $802,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Manning & Napier Advisors LLC purchased a new stake in Tesla during the third quarter valued at about $29,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Tesla in the 3rd quarter worth about $31,000. Westend Capital Management LLC acquired a new position in shares of Tesla in the 3rd quarter valued at about $32,000. Chapman Financial Group LLC purchased a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the 2nd quarter worth about $30,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the completion of the sale, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. This trade represents a 9.42% 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, Director Kathleen Wilson-Thompson sold 25,731 shares of Tesla stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $415.56, for a total value of $10,692,774.36. Following the sale, the director directly owned 19,669 shares in the company, valued at approximately $8,173,649.64. The trade was a 56.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 87,995 shares of company stock worth $38,315,650 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Tesla Trading Up 1.1%

NASDAQ TSLA opened at $395.56 on Tuesday. The stock has a market cap of $1.48 trillion, a P/E ratio of 366.26, a PEG ratio of 11.57 and a beta of 1.89. The company’s fifty day simple moving average is $418.86 and its 200-day simple moving average is $426.37. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The firm had revenue of $24.90 billion for the quarter, compared to the consensus estimate of $24.75 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America began coverage on shares of Tesla in a report on Wednesday, March 4th. They issued a “buy” rating and a $460.00 price target on the stock. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Thursday, March 12th. Canaccord Genuity Group set a $520.00 target price on shares of Tesla in a report on Thursday, January 29th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a research report on Thursday, January 29th. Finally, President Capital lowered their price target on Tesla from $517.00 to $500.00 and set a “buy” rating for the company in a report on Friday, January 30th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $406.84.

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About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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