WIM INVESTMENT MANAGEMENT Ltd Invests $72.58 Million in Tesla, Inc. (NASDAQ:TSLA)

WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 277,430 shares of the electric vehicle producer’s stock, valued at approximately $72,584,000. Tesla accounts for approximately 30.5% of WIM INVESTMENT MANAGEMENT Ltd’s portfolio, making the stock its largest position.

Other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the period. Tyler Stone Wealth Management boosted its stake in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the period. Savvy Advisors Inc. boosted its stake in shares of Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Tesla by 19.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Guggenheim boosted their price target on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Citigroup lowered their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $230.18.

Tesla Stock Performance

NASDAQ TSLA opened at $320.72 on Friday. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The stock has a fifty day simple moving average of $252.30 and a 200 day simple moving average of $220.72. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $0.53 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is currently owned by insiders.

Tesla 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.