Fullerton Fund Management Co Ltd. Cuts Position in Tesla, Inc. $TSLA

Fullerton Fund Management Co Ltd. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,752 shares of the electric vehicle producer’s stock after selling 10,845 shares during the period. Fullerton Fund Management Co Ltd.’s holdings in Tesla were worth $14,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC acquired a new stake in shares of Tesla in the 2nd quarter worth approximately $29,000. CoreFirst Bank & Trust purchased a new stake in Tesla during the second quarter worth $30,000. ESL Trust Services LLC grew its holdings in Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 95 shares during the last quarter. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Finally, Evergreen Private Wealth LLC raised its stake in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 119,457 shares of company stock worth $52,137,945 in the last three months. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $458.96 on Friday. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 305.97, a price-to-earnings-growth ratio of 15.09 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The stock’s fifty day simple moving average is $435.52 and its 200-day simple moving average is $376.19.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays reissued a “neutral” rating and issued a $350.00 price objective on shares of Tesla in a research note on Monday, December 1st. DZ Bank reiterated a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. Bank of America increased their target price on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, President Capital boosted their price target on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $399.33.

Tesla Company Profile

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.