ICICI Prudential Asset Management Co Ltd Has $1.96 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

ICICI Prudential Asset Management Co Ltd increased its stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 19.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,791 shares of the electric vehicle producer’s stock after acquiring an additional 297 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Tesla were worth $1,959,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Synergy Asset Management LLC acquired a new stake in Tesla in the 4th quarter valued at approximately $228,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Tesla during the 4th quarter worth approximately $352,000. Qube Research & Technologies Ltd bought a new position in shares of Tesla during the 4th quarter worth approximately $71,285,000. Pinnacle Financial Partners Inc. lifted its position in shares of Tesla by 196.5% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 851 shares of the electric vehicle producer’s stock worth $899,000 after buying an additional 564 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Tesla by 45.9% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,725 shares of the electric vehicle producer’s stock worth $1,823,000 after buying an additional 543 shares during the period. Institutional investors and hedge funds own 40.64% of the company’s stock.

Tesla Trading Down 5.2 %

NASDAQ:TSLA traded down $48.30 on Friday, reaching $877.60. The company’s stock had a trading volume of 1,128,534 shares, compared to its average volume of 30,116,138. The firm has a market cap of $916.64 billion, a PE ratio of 111.55, a PEG ratio of 2.79 and a beta of 2.17. The business’s 50-day moving average price is $741.57 and its two-hundred day moving average price is $843.26. Tesla, Inc. has a 1-year low of $620.57 and a 1-year high of $1,243.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 1.43.

Tesla (NASDAQ:TSLAGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.46. The company had revenue of $16.93 billion for the quarter, compared to analyst estimates of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 10.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Tesla from $1,250.00 to $1,125.00 and set a “buy” rating for the company in a research report on Tuesday, June 28th. Mizuho lifted their price objective on Tesla from $1,150.00 to $1,175.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. TheStreet upgraded Tesla from a “c+” rating to a “b-” rating in a research report on Wednesday, April 27th. Cowen lifted their price objective on Tesla from $700.00 to $733.00 in a research report on Thursday, July 21st. Finally, Robert W. Baird cut their price objective on Tesla from $1,108.00 to $949.00 in a research report on Thursday, July 21st. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $859.50.

Insider Activity

In related news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the sale, the senior vice president now owns 20,138 shares in the company, valued at $14,541,649.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kathleen Wilson-Thompson sold 8,750 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $904.00, for a total transaction of $7,910,000.00. Following the sale, the director now owns 1,800 shares in the company, valued at $1,627,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $722.10, for a total value of $2,527,350.00. Following the completion of the sale, the senior vice president now owns 20,138 shares in the company, valued at approximately $14,541,649.80. The disclosure for this sale can be found here. Insiders have sold a total of 66,239 shares of company stock worth $53,099,879 over the last three months. Corporate insiders own 25.10% of the company’s stock.

Tesla Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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