Central Asset Investments & Management Holdings HK Ltd Makes New $8.74 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,630 shares of the electric vehicle producer’s stock, valued at approximately $8,735,000. Tesla accounts for about 5.4% of Central Asset Investments & Management Holdings HK Ltd’s portfolio, making the stock its 5th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in TSLA. Strategic Financial Concepts LLC boosted its position in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Tesla by 194.7% in the fourth 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 buying an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tesla by 13.7% in the third 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 buying an additional 2,946,763 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Tesla by 52.0% in the third 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 buying an additional 2,511,488 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Jefferies Financial Group boosted their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $318.77.

Tesla Stock Performance

TSLA opened at $293.33 on Friday. The company has a market cap of $943.49 billion, a PE ratio of 143.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock has a 50-day moving average of $385.35 and a 200-day moving average of $315.95. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last released its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.