M&G PLC Has $3.46 Million Stock Position in Tesla, Inc. $TSLA

M&G PLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 69.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,894 shares of the electric vehicle producer’s stock after selling 24,809 shares during the quarter. M&G PLC’s holdings in Tesla were worth $3,464,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Siren L.L.C. bought a new position in shares of Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC increased its stake in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new position in shares of Tesla during the 1st quarter valued at $594,000. Strs Ohio bought a new position in Tesla during the first quarter worth $205,495,000. Finally, AustralianSuper Pty Ltd grew its holdings in Tesla by 1,823.0% in the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after purchasing an additional 64,772 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. New Street Research upped their price objective on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Mizuho boosted their target price on Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Cantor Fitzgerald set a $510.00 price target on Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, CICC Research raised their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $393.61.

Tesla Stock Performance

Shares of TSLA opened at $401.99 on Friday. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 267.99, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The stock has a 50 day moving average price of $428.60 and a two-hundred day moving average price of $359.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.

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.