453,247 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, HoldingsChannel reports. The fund acquired 453,247 shares of the electric vehicle producer’s stock, valued at approximately $118,583,000. Tesla makes up approximately 1.0% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 25th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Zone Wealth Advisors LLC lifted its holdings in shares of Tesla by 16.0% in the second quarter. Blue Zone Wealth Advisors LLC now owns 7,896 shares of the electric vehicle producer’s stock valued at $1,562,000 after purchasing an additional 1,091 shares in the last quarter. Muirfield Wealth Advisors LLC lifted its holdings in shares of Tesla by 3.8% in the second quarter. Muirfield Wealth Advisors LLC now owns 1,947 shares of the electric vehicle producer’s stock valued at $385,000 after purchasing an additional 72 shares in the last quarter. Keystone Wealth Services LLC lifted its holdings in shares of Tesla by 0.8% in the second quarter. Keystone Wealth Services LLC now owns 5,993 shares of the electric vehicle producer’s stock valued at $1,186,000 after purchasing an additional 49 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in shares of Tesla by 15.2% in the second quarter. MJP Associates Inc. ADV now owns 4,542 shares of the electric vehicle producer’s stock valued at $899,000 after purchasing an additional 600 shares in the last quarter. Finally, GSG Advisors LLC lifted its stake in shares of Tesla by 13.0% during the second quarter. GSG Advisors LLC now owns 1,495 shares of the electric vehicle producer’s stock valued at $314,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 520,280 shares of company stock worth $170,418,640 in the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $389.22 on Friday. The company has a market capitalization of $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36. The firm has a fifty day simple moving average of $282.96 and a 200-day simple moving average of $236.89. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $389.49.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on TSLA shares. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $245.84.

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.