Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 180,045 shares of the electric vehicle producer’s stock after purchasing an additional 17,310 shares during the period. Tesla accounts for approximately 3.3% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 7th biggest position. Harvest Fund Management Co. Ltd’s holdings in Tesla were worth $72,522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Hengehold Capital Management LLC raised its position in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI raised its position in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC raised its position in shares of Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD raised its position in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its position in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $225.31 on Wednesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The firm’s fifty day simple moving average is $344.47 and its 200-day simple moving average is $320.61. The firm has a market capitalization of $724.71 billion, a price-to-earnings ratio of 110.45, a PEG ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Glj Research reiterated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Royal Bank of Canada cut their price objective on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $404.00 price objective on shares of Tesla in a report on Monday. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $319.25.

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.