AIA Group Ltd Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

AIA Group Ltd grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,226 shares of the electric vehicle producer’s stock after acquiring an additional 22,852 shares during the quarter. Tesla comprises about 1.0% of AIA Group Ltd’s investment portfolio, making the stock its 23rd biggest holding. AIA Group Ltd’s holdings in Tesla were worth $42,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Tesla in the fourth quarter valued at about $38,000. Delos Wealth Advisors LLC boosted its position in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $44,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 3.5 %

TSLA opened at $263.55 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock’s 50 day moving average price is $321.33 and its 200-day moving average price is $323.01. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Benchmark assumed coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Guggenheim decreased their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Canaccord Genuity Group reiterated a “buy” rating and set a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $318.34.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

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.