Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by abrdn plc

abrdn plc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,233,104 shares of the electric vehicle producer’s stock after purchasing an additional 563,265 shares during the quarter. Tesla makes up approximately 1.2% of abrdn plc’s investment portfolio, making the stock its 9th largest holding. abrdn plc’s holdings in Tesla were worth $554,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter worth approximately $3,459,540,000. Moneta Group Investment Advisors LLC grew its position in shares of Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after buying an additional 26,836,879 shares during the period. Bank of New York Mellon Corp grew its position in shares of Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after buying an additional 13,558,882 shares during the period. International Assets Investment Management LLC grew its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Finally, Morgan Stanley grew its position in Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after purchasing an additional 5,292,464 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Tesla stock traded down $2.88 during midday trading on Friday, reaching $147.05. The stock had a trading volume of 87,074,500 shares, compared to its average volume of 89,857,384. Tesla, Inc. has a 12 month low of $146.22 and a 12 month high of $299.29. The firm’s 50-day moving average price is $178.51 and its 200 day moving average price is $211.48. The firm has a market capitalization of $468.32 billion, a PE ratio of 34.12, a P/E/G ratio of 3.96 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. Canaccord Genuity Group reduced their price target on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Jefferies Financial Group reduced their price target on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research report on Wednesday, March 27th. Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $194.70.

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.