MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in Tesla, Inc. $TSLA

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,805,129 shares of the electric vehicle producer’s stock after acquiring an additional 147,526 shares during the quarter. Tesla comprises 1.3% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s investment portfolio, making the stock its 11th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Tesla worth $802,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Chapman Financial Group LLC acquired a new stake in shares of Tesla during the second quarter worth $26,000. Manning & Napier Advisors LLC acquired a new position in Tesla in the 3rd quarter valued at $29,000. CoreFirst Bank & Trust acquired a new position in Tesla in the 2nd quarter valued at $30,000. Texas Capital Bancshares Inc TX acquired a new position in Tesla in the 3rd quarter valued at $31,000. Finally, ESL Trust Services LLC raised its position in Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Key Tesla News

Here are the key news stories impacting Tesla this week:

Tesla Stock Up 1.1%

TSLA stock opened at $395.56 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $418.86 and its 200 day moving average price is $426.37. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83. The company has a market cap of $1.48 trillion, a P/E ratio of 366.26, a P/E/G ratio of 11.57 and a beta of 1.89.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total value of $898,875.92. Following the completion of the sale, the chief financial officer owned 18,106 shares of the company’s stock, valued at $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 87,995 shares of company stock worth $38,315,650 over the last quarter. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TSLA. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $150.00 to $145.00 and set an “underweight” rating on the stock in a report on Friday, January 30th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, January 29th. UBS Group lifted their price objective on Tesla from $307.00 to $352.00 and gave the company a “sell” rating in a report on Thursday, January 29th. BNP Paribas Exane dropped their target price on Tesla from $313.00 to $280.00 and set an “underperform” rating on the stock in a research report on Monday, March 2nd. Finally, Benchmark reissued a “buy” rating on shares of Tesla in a research note on Wednesday, February 11th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $406.84.

Read Our Latest Stock Report on Tesla

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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