IFM Investors Pty Ltd Purchases 10,467 Shares of Tesla, Inc. (NASDAQ:TSLA)


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IFM Investors Pty Ltd lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,881 shares of the electric vehicle producer’s stock after purchasing an additional 10,467 shares during the quarter. Tesla makes up about 1.6% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 6th largest position. IFM Investors Pty Ltd’s holdings in Tesla were worth $50,724,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Hohimer Wealth Management LLC grew its holdings in shares of Tesla by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,552 shares of the electric vehicle producer’s stock worth $1,095,000 after purchasing an additional 12 shares in the last quarter. Jacobs & Co. CA grew its holdings in shares of Tesla by 0.7% during the 4th quarter. Jacobs & Co. CA now owns 2,196 shares of the electric vehicle producer’s stock worth $1,549,000 after purchasing an additional 16 shares in the last quarter. Pflug Koory LLC grew its holdings in shares of Tesla by 21.7% during the 3rd quarter. Pflug Koory LLC now owns 140 shares of the electric vehicle producer’s stock worth $60,000 after purchasing an additional 25 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Tesla by 4.4% during the 4th quarter. Sheets Smith Wealth Management now owns 611 shares of the electric vehicle producer’s stock worth $431,000 after purchasing an additional 26 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Tesla by 0.7% during the 4th quarter. Fulton Bank N.A. now owns 4,351 shares of the electric vehicle producer’s stock worth $3,071,000 after buying an additional 30 shares during the period. 48.22% of the stock is currently owned by institutional investors.

In related news, CFO Zachary Kirkhorn sold 1,250 shares of the company’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $446.24, for a total transaction of $557,800.00. Following the sale, the chief financial officer now owns 56,874 shares in the company, valued at $25,379,453.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vaibhav Taneja sold 4,463 shares of the company’s stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $762.99, for a total value of $3,405,224.37. Following the sale, the chief accounting officer now owns 16,728 shares in the company, valued at approximately $12,763,296.72. The disclosure for this sale can be found here. Insiders have sold 186,643 shares of company stock worth $92,195,056 in the last quarter. 23.00% of the stock is currently owned by corporate insiders.

TSLA has been the subject of several analyst reports. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $578.00 target price for the company. in a research report on Thursday, December 10th. They noted that the move was a valuation call. Barclays lifted their price objective on Tesla from $125.00 to $230.00 in a research report on Thursday, December 17th. Bank of America cut their price objective on Tesla to $500.00 and set a “neutral” rating for the company in a research report on Tuesday, November 17th. JPMorgan Chase & Co. lifted their price objective on Tesla from $90.00 to $105.00 and gave the company an “underweight” rating in a research report on Monday, January 4th. Finally, Cfra downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 18th. Twelve analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Tesla has a consensus rating of “Hold” and an average price target of $325.36.

TSLA stock opened at $854.41 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.92. The stock has a market capitalization of $809.90 billion, a P/E ratio of 2,225.03, a P/E/G ratio of 20.46 and a beta of 1.68. The business has a 50-day moving average of $671.72 and a 200-day moving average of $451.20. Tesla, Inc. has a fifty-two week low of $70.10 and a fifty-two week high of $884.49.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.54. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same period in the prior year, the firm earned $0.37 earnings per share. Equities analysts expect that Tesla, Inc. will post 0.62 EPS for the current year.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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