Mediolanum International Funds Ltd Has $56.64 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Mediolanum International Funds Ltd grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 217,820 shares of the electric vehicle producer’s stock after purchasing an additional 13,477 shares during the quarter. Tesla makes up approximately 0.7% of Mediolanum International Funds Ltd’s holdings, making the stock its 25th biggest holding. Mediolanum International Funds Ltd’s holdings in Tesla were worth $56,640,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Integris Wealth Management LLC increased its stake in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its holdings in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC raised its holdings in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co raised its holdings in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Finally, Bellevue Asset Management LLC raised its holdings in Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $4.23 during midday trading on Friday, hitting $264.71. The stock had a trading volume of 63,385,668 shares, compared to its average volume of 94,209,750. The company’s 50-day moving average price is $228.54 and its 200-day moving average price is $206.41. The company has a market capitalization of $845.65 billion, a P/E ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday. Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $218.18.

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.