Tesla, Inc. $TSLA Stock Position Lifted by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 23.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,851 shares of the electric vehicle producer’s stock after buying an additional 4,133 shares during the period. Tesla makes up about 5.0% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 3rd largest position. Caitong International Asset Management Co. Ltd’s holdings in Tesla were worth $6,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. First Merchants Corp boosted its stake in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares in the last quarter. Alaska Wealth Advisors boosted its stake in Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares in the last quarter. KWB Wealth boosted its stake in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its stake in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its stake in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Bank of America lifted their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. HSBC lifted their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Evercore ISI lifted their price objective on shares of Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $380.97.

Tesla Price Performance

NASDAQ:TSLA opened at $448.98 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 299.32, a price-to-earnings-growth ratio of 15.78 and a beta of 2.08. The company has a 50 day moving average price of $396.00 and a 200-day moving average price of $338.45. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is 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.