OVERSEA CHINESE BANKING Corp Ltd Sells 7,501 Shares of Tesla, Inc. $TSLA

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 40.3% in the fourth quarter, Holdings Channel reports. The firm owned 11,128 shares of the electric vehicle producer’s stock after selling 7,501 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Tesla were worth $5,018,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Networth Advisors LLC acquired a new stake in shares of Tesla during the fourth quarter worth approximately $26,000. Chapman Financial Group LLC acquired a new stake in shares of Tesla during the second quarter worth approximately $26,000. Manning & Napier Advisors LLC acquired a new stake in shares of Tesla during the third quarter worth approximately $29,000. Prism Advisors Inc. acquired a new stake in shares of Tesla during the fourth quarter worth approximately $30,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of Tesla during the third quarter worth approximately $30,000. Institutional investors own 66.20% of the company’s stock.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Stock Down 1.5%

NASDAQ:TSLA opened at $386.42 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $229.85 and a 12-month high of $498.83. The stock’s fifty day simple moving average is $388.44 and its 200-day simple moving average is $421.86. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 357.80, a P/E/G ratio of 12.41 and a beta of 1.91.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The business had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $420.00 price objective on shares of Tesla in a report on Monday, April 6th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a report on Tuesday. Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Wednesday, February 11th. BNP Paribas Exane dropped their price objective on shares of Tesla from $313.00 to $280.00 and set an “underperform” rating for the company in a report on Monday, March 2nd. Finally, DZ Bank reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, January 29th. Eighteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $397.26.

Get Our Latest Research Report on TSLA

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of the company’s stock in a transaction dated 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 directly owned 18,106 shares of the company’s stock, valued at $7,188,625.18. This represents a 11.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 25,809 shares of Tesla stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $359.33, for a total transaction of $9,273,947.97. Following the transaction, the director directly owned 33,860 shares in the company, valued at $12,166,913.80. The trade was a 43.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 53,804 shares of company stock valued at $20,865,598. 19.90% of the stock is currently owned by company insiders.

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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