Allianz SE Invests $43.53 Million in Tesla, Inc. (NASDAQ:TSLA)

Allianz SE acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel.com reports. The fund acquired 104,334 shares of the electric vehicle producer’s stock, valued at approximately $43,531,000. Tesla accounts for 1.1% of Allianz SE’s holdings, making the stock its 17th largest holding.

A number of other institutional investors also recently bought and sold shares of TSLA. Principal Financial Group Inc. boosted 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 worth $955,052,000 after purchasing an additional 194,796 shares during the period. United Bank purchased a new position in shares of Tesla during the third quarter worth $287,000. Quantbot Technologies LP acquired a new stake in shares of Tesla in the third quarter valued at $687,000. Glenmede Trust Co. NA raised its holdings in shares of Tesla by 34.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock valued at $13,317,000 after buying an additional 12,955 shares during the period. Finally, Fiduciary Trust Co lifted its stake in Tesla by 15.5% during the 3rd quarter. Fiduciary Trust Co now owns 10,594 shares of the electric vehicle producer’s stock worth $2,772,000 after acquiring an additional 1,425 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 3.5 %

Shares of TSLA opened at $263.55 on Friday. The firm’s 50-day moving average is $321.33 and its two-hundred day moving average is $321.68. Tesla, Inc. has a twelve month low of $138.80 and a twelve 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 firm has a market capitalization 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 released 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%. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Morgan Stanley decreased their price target on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Glj Research reiterated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Finally, Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $318.34.

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.