Royal London Asset Management Ltd. Has $247.31 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Royal London Asset Management Ltd. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,249,816 shares of the electric vehicle producer’s stock after buying an additional 16,451 shares during the quarter. Tesla accounts for approximately 0.6% of Royal London Asset Management Ltd.’s holdings, making the stock its 26th biggest holding. Royal London Asset Management Ltd.’s holdings in Tesla were worth $247,314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter worth about $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla during the 4th quarter valued at $37,000. Guardian Wealth Management Inc. acquired a new position in shares of Tesla in the 4th quarter valued at $47,000. Kessler Investment Group LLC boosted its position in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. Finally, A.P. Gilfoyle & Co. L.P. acquired a new position in Tesla in the fourth quarter valued at about $50,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.6 %

Tesla stock opened at $216.27 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The firm has a market capitalization of $690.90 billion, a price-to-earnings ratio of 55.17, a price-to-earnings-growth ratio of 5.57 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. The firm’s fifty day moving average price is $224.59 and its two-hundred day moving average price is $193.72.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. HSBC upped their target price on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. KGI Securities reiterated a “neutral” rating and set a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $204.21.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

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.