Royal London Asset Management Ltd. Has $534.57 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Royal London Asset Management Ltd. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,323,720 shares of the electric vehicle producer’s stock after purchasing an additional 19,385 shares during the period. Tesla accounts for about 1.3% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 11th biggest holding. Royal London Asset Management Ltd.’s holdings in Tesla were worth $534,571,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Swedbank AB boosted its stake in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Principal Financial Group Inc. grew its position in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank bought a new position in Tesla in the third quarter valued at about $287,000. Baron Wealth Management LLC grew its holdings in shares of Tesla by 5.4% during the third quarter. Baron Wealth Management LLC now owns 3,187 shares of the electric vehicle producer’s stock worth $834,000 after purchasing an additional 164 shares during the last quarter. Finally, Caprock Group LLC increased its stake in shares of Tesla by 22.8% in the third quarter. Caprock Group LLC now owns 39,455 shares of the electric vehicle producer’s stock valued at $10,323,000 after buying an additional 7,333 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Barclays boosted their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. UBS Group decreased their target price on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Piper Sandler boosted their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Monday. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $319.25.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 5.3 %

Shares of Tesla stock opened at $225.31 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a fifty day moving average of $344.47 and a 200 day moving average of $320.61. The company has a market capitalization of $724.71 billion, a P/E ratio of 110.45, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 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.