Fullerton Fund Management Co Ltd. Has $29.77 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Fullerton Fund Management Co Ltd. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 117.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,715 shares of the electric vehicle producer’s stock after purchasing an additional 39,776 shares during the quarter. Tesla accounts for approximately 1.0% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 23rd largest position. Fullerton Fund Management Co Ltd.’s holdings in Tesla were worth $29,769,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hengehold Capital Management LLC raised its stake in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI raised its position in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC lifted its stake in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its position in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares during the period. Finally, Vista Finance LLC grew its stake in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,623 shares of company stock valued at $114,400,501. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Bank of America lowered their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Robert W. Baird dropped their target price on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $430.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $287.46.

Tesla Stock Performance

Shares of TSLA stock opened at $298.05 on Friday. 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 business has a fifty day moving average of $258.65 and a 200 day moving average of $326.64. The firm has a market capitalization of $960.01 billion, a price-to-earnings ratio of 146.10, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm earned $0.45 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.