Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,373 shares of the electric vehicle producer’s stock after buying an additional 3,964 shares during the quarter. Tesla comprises about 1.8% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 13th biggest position. Harvest Fund Management Co. Ltd’s holdings in Tesla were worth $11,517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new stake in Tesla in the fourth quarter worth about $25,000. Lam Group Inc. acquired a new stake in Tesla in the fourth quarter worth about $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV lifted its holdings in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein cut their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Wells Fargo & Company reduced their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Citigroup reduced their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Truist Financial reduced their price target on shares of Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research report on Wednesday, April 3rd. Finally, 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. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $194.33.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last 90 days. Insiders own 20.90% of the company’s stock.

Tesla Stock Performance

TSLA stock traded up $2.63 during midday trading on Tuesday, hitting $144.68. 119,642,343 shares of the company traded hands, compared to its average volume of 101,872,688. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $176.81 and a 200-day simple moving average of $209.24. The stock has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.89 and a beta of 2.40.

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

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.