Cardano Asset Management N.V. Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Cardano Asset Management N.V. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 532,352 shares of the electric vehicle producer’s stock, valued at approximately $132,997,000. Tesla accounts for about 5.3% of Cardano Asset Management N.V.’s holdings, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Norges Bank purchased a new position in Tesla during the 4th quarter worth $7,844,757,000. International Assets Investment Management LLC boosted its stake in shares of Tesla by 25,990.7% during the fourth 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. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the last quarter. Morgan Stanley increased its position in Tesla by 7.8% in 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 acquiring an additional 2,177,397 shares during the period. Finally, Northern Trust Corp raised its stake in Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after acquiring an additional 909,170 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity 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 value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. 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. 25.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Truist Financial cut their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Guggenheim reaffirmed a “sell” rating and issued a $122.00 target price on shares of Tesla in a report on Tuesday, April 23rd. Citigroup increased their price target on shares of Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Redburn Atlantic initiated coverage on Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $185.90.

Tesla Trading Up 6.7 %

Shares of NASDAQ TSLA traded up $11.65 during midday trading on Tuesday, reaching $186.60. 113,413,242 shares of the stock were exchanged, compared to its average volume of 101,292,352. The stock has a 50 day moving average price of $170.76 and a 200-day moving average price of $202.13. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $595.10 billion, a P/E ratio of 47.40, a P/E/G ratio of 4.89 and a beta of 2.41. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Equities research analysts expect that Tesla, Inc. will post 1.89 earnings per share for the current fiscal year.

Tesla 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.