Tesla, Inc. (NASDAQ:TSLA) is QCM Cayman Ltd.’s Largest Position

QCM Cayman Ltd. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,635 shares of the electric vehicle producer’s stock after buying an additional 269 shares during the period. Tesla comprises 21.9% of QCM Cayman Ltd.’s holdings, making the stock its biggest holding. QCM Cayman Ltd.’s holdings in Tesla were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. lifted its position in shares of Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares during the period. California Public Employees Retirement System lifted its position in shares of Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after purchasing an additional 2,293,344 shares during the period. Morgan Stanley lifted its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA traded up $2.63 during mid-day trading on Tuesday, reaching $144.68. 116,590,526 shares of the stock were exchanged, compared to its average volume of 101,872,688. The business’s 50 day moving average is $177.59 and its 200-day moving average is $210.05. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a market capitalization of $460.78 billion, a P/E ratio of 33.81, a P/E/G ratio of 3.89 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last ninety days. Corporate insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. China Renaissance assumed coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating for the company. Sanford C. Bernstein reduced their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Mizuho reiterated a “neutral” rating and set a $195.00 price objective (down previously from $270.00) on shares of Tesla in a research note on Monday, March 25th. Wells Fargo & Company reduced their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Finally, HSBC reduced their price objective on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a research note on Wednesday, April 3rd. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $194.33.

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.