AIA Group Ltd Sells 3,074 Shares of Tesla, Inc. (NASDAQ:TSLA)

AIA Group Ltd reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,270 shares of the electric vehicle producer’s stock after selling 3,074 shares during the quarter. Tesla accounts for about 0.7% of AIA Group Ltd’s investment portfolio, making the stock its 28th largest holding. AIA Group Ltd’s holdings in Tesla were worth $17,958,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TSLA. Norges Bank bought a new position in shares of Tesla during the fourth quarter worth about $3,459,540,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Tesla by 180,125.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after buying an additional 26,836,879 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Tesla by 203.9% during the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after buying an additional 13,558,882 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Tesla by 25,990.7% during the fourth 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 buying an additional 6,179,032 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after buying an additional 5,292,464 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $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 worth $38,802,534 in the last 90 days. Company insiders own 25.10% of the company’s stock.

Tesla Price Performance

Tesla stock traded down $4.82 during mid-day trading on Thursday, reaching $150.63. 84,885,071 shares of the company were exchanged, compared to its average volume of 101,664,672. The company has a fifty day simple moving average of $180.24 and a 200-day simple moving average of $212.64. Tesla, Inc. has a 12 month low of $148.70 and a 12 month high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market cap of $479.72 billion, a PE ratio of 35.25, a PEG ratio of 4.15 and a beta of 2.39.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen decreased their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Sanford C. Bernstein decreased their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Jefferies Financial Group decreased their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Truist Financial decreased their price target on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group decreased their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $194.70.

Tesla Company Profile

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.