IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,851 shares of the electric vehicle producer’s stock after buying an additional 151 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Tesla were worth $5,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank bought a new position in Tesla in the third quarter worth approximately $287,000. Quantbot Technologies LP purchased a new position in shares of Tesla during the 3rd quarter worth $687,000. Insight Wealth Partners LLC grew its position in shares of Tesla by 4.9% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,441 shares of the electric vehicle producer’s stock valued at $377,000 after acquiring an additional 67 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Tesla by 34.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock worth $13,317,000 after purchasing an additional 12,955 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group restated a “buy” rating and set a $404.00 target price on shares of Tesla in a research note on Monday, March 17th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Down 5.6 %

Shares of TSLA opened at $272.06 on Thursday. 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 business has a fifty day moving average of $327.40 and a 200 day moving average of $321.69. The company has a market cap of $875.09 billion, a PE ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its 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%. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.