AIA Group Ltd Purchases 22,852 Shares of Tesla, Inc. (NASDAQ:TSLA)

AIA Group Ltd boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 27.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 106,226 shares of the electric vehicle producer’s stock after purchasing an additional 22,852 shares during the period. Tesla comprises 1.0% of AIA Group Ltd’s investment portfolio, making the stock its 23rd biggest position. AIA Group Ltd’s holdings in Tesla were worth $42,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its position in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management boosted its holdings in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its position in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the period. MML Investors Services LLC raised its position in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares during the period. Finally, Wellington Management Group LLP boosted its stake in 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 acquiring an additional 2,511,488 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.5 %

Shares of Tesla stock opened at $263.55 on Monday. The company’s fifty day simple moving average is $321.33 and its two-hundred day simple moving average is $323.01. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $847.71 billion, a P/E ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price on the stock in a research report on Wednesday, March 19th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $318.34.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last ninety days. Company insiders own 20.70% of the company’s stock.

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.