Mirae Asset Global Investments Co. Ltd. Purchases 140,187 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,495,942 shares of the electric vehicle producer’s stock after purchasing an additional 140,187 shares during the period. Tesla accounts for 1.7% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 11th largest holding. Mirae Asset Global Investments Co. Ltd.’s holdings in Tesla were worth $388,470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSLA. Kathmere Capital Management LLC lifted its holdings in Tesla by 9.2% in the 1st quarter. Kathmere Capital Management LLC now owns 1,177 shares of the electric vehicle producer’s stock worth $207,000 after purchasing an additional 99 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Tesla by 4.3% in the first quarter. Astoria Portfolio Advisors LLC. now owns 1,613 shares of the electric vehicle producer’s stock worth $260,000 after buying an additional 67 shares in the last quarter. Romano Brothers AND Company boosted its position in shares of Tesla by 3.8% during the first quarter. Romano Brothers AND Company now owns 2,479 shares of the electric vehicle producer’s stock worth $436,000 after acquiring an additional 90 shares during the last quarter. Gibson Capital LLC purchased a new position in Tesla during the first quarter valued at $192,000. Finally, Foguth Wealth Management LLC. bought a new stake in Tesla in the 1st quarter valued at $3,413,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $269.19 on Friday. The company has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The business’s fifty day simple moving average is $229.47 and its 200-day simple moving average is $206.79.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus increased their price target on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday. KGI Securities raised 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. JPMorgan Chase & Co. increased their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday. Eight 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.00.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

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.