E Fund Management Hong Kong Co. Ltd. Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

E Fund Management Hong Kong Co. Ltd. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118 shares of the electric vehicle producer’s stock after selling 96 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Tesla were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Tesla in the second quarter valued at about $48,000. Clearbridge Investments LLC raised its position in shares of Tesla by 9.1% during the 2nd quarter. Clearbridge Investments LLC now owns 1,207,779 shares of the electric vehicle producer’s stock worth $238,995,000 after purchasing an additional 101,114 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Tesla during the 2nd quarter valued at $807,000. Creekside Partners purchased a new position in Tesla during the second quarter worth $476,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Tesla in the second quarter worth $45,548,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s 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 of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 over the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 2.3 %

NASDAQ:TSLA opened at $389.10 on Thursday. The stock has a market cap of $1.25 trillion, a price-to-earnings ratio of 106.60, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business’s 50-day simple moving average is $401.04 and its 200 day simple moving average is $296.63.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Barclays lifted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Truist Financial reissued a “hold” rating and set a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. Finally, New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research note on Monday, January 6th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $313.84.

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.