415,550 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 415,550 shares of the electric vehicle producer’s stock, valued at approximately $167,816,000. Tesla makes up 10.3% of Contrarius Group Holdings Ltd’s holdings, making the stock its 2nd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. GS Investments Inc. boosted its holdings 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 purchasing an additional 58 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Tesla during the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $47,000. PayPay Securities Corp boosted its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in Tesla during the fourth quarter valued at approximately $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price objective on shares of Tesla in a report on Monday. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Barclays boosted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reduced their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $321.12.

Tesla Price Performance

Shares of TSLA stock opened at $235.86 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market capitalization of $758.65 billion, a price-to-earnings ratio of 115.62, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $341.28 and a 200-day moving average of $320.02.

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

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last quarter. Company insiders own 20.70% of the company’s stock.

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.