M&G Investment Management Ltd. Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

M&G Investment Management Ltd. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,522 shares of the electric vehicle producer’s stock, valued at approximately $2,857,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after acquiring an additional 3,453,078 shares during the period. Morgan Stanley grew its holdings in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. FMR LLC raised its position in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after buying an additional 269,182 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after buying an additional 909,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Cantor Fitzgerald began coverage on shares of Tesla in a report on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price objective for the company. Morgan Stanley dropped their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Finally, Mizuho reduced their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Up 0.2 %

Shares of NASDAQ TSLA traded up $0.42 during trading hours on Thursday, hitting $174.41. 25,684,946 shares of the stock were exchanged, compared to its average volume of 101,436,680. The company has a market cap of $556.23 billion, a PE ratio of 44.49, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $170.85 and a 200-day moving average price of $202.78.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, sell-side analysts expect that Tesla, Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,803 shares of company stock worth $56,124,840. 20.90% of the stock is owned by insiders.

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.