Taikang Asset Management Hong Kong Co Ltd Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Taikang Asset Management Hong Kong Co Ltd lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 175,568 shares of the electric vehicle producer’s stock after selling 12,950 shares during the period. Tesla comprises 10.4% of Taikang Asset Management Hong Kong Co Ltd’s holdings, making the stock its largest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Tesla were worth $70,901,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the 4th quarter valued at about $38,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $278.39 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business has a 50 day moving average price of $332.69 and a 200-day moving average price of $321.49. The firm has a market cap of $895.45 billion, a PE ratio of 136.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TSLA shares. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Guggenheim dropped their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Finally, TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $318.93.

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.