Harvest Fund Management Co. Ltd Has $72.52 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Harvest Fund Management Co. Ltd lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,045 shares of the electric vehicle producer’s stock after acquiring an additional 17,310 shares during the period. Tesla accounts for approximately 3.3% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 7th biggest holding. Harvest Fund Management Co. Ltd’s holdings in Tesla were worth $72,522,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TSLA. Strategic Financial Concepts LLC lifted its holdings in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after acquiring an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Barclays raised their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $319.25.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA opened at $225.31 on Wednesday. The company has a market cap of $724.71 billion, a price-to-earnings ratio of 110.45, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $344.47 and a two-hundred day moving average of $320.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, analysts predict 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.