ING Groep NV Takes Position in Tesla, Inc. (NASDAQ:TSLA)

ING Groep NV purchased a new position in 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 purchased 220,193 shares of the electric vehicle producer’s stock, valued at approximately $57,609,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter valued at $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Tesla in the 3rd quarter worth about $29,000. Finally, Clean Yield Group grew its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Phillip Securities upgraded Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Citigroup reduced their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Finally, Truist Financial lifted their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $228.24.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 3.3 %

TSLA traded down $10.88 during trading on Thursday, reaching $319.36. The company had a trading volume of 45,658,820 shares, compared to its average volume of 95,604,727. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.07, a PEG ratio of 10.67 and a beta of 2.29. The firm’s 50-day simple moving average is $248.48 and its 200 day simple moving average is $218.94.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.