China Universal Asset Management Co. Ltd. Has $10.40 Million Position in Tesla, Inc. (NASDAQ:TSLA)

China Universal Asset Management Co. Ltd. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,750 shares of the electric vehicle producer’s stock after acquiring an additional 6,224 shares during the quarter. Tesla makes up 1.1% of China Universal Asset Management Co. Ltd.’s portfolio, making the stock its 16th biggest holding. China Universal Asset Management Co. Ltd.’s holdings in Tesla were worth $10,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC raised its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Clean Yield Group lifted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock opened at $262.51 on Tuesday. The firm has a market capitalization of $842.67 billion, a P/E ratio of 71.92, a P/E/G ratio of 7.59 and a beta of 2.29. The stock has a fifty day moving average price of $231.33 and a two-hundred day moving average price of $208.54. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSLA shares. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Stifel Nicolaus upped their price target on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group raised their price objective on Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Finally, Bank of America lifted their price target on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $219.00.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was 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 owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,297 shares of company stock worth $3,065,866. Insiders own 20.70% of the company’s stock.

Tesla Company 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.