Tesla, Inc. (NASDAQ:TSLA) is IvyRock Asset Management HK Ltd’s 4th Largest Position

IvyRock Asset Management HK Ltd trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,786 shares of the electric vehicle producer’s stock after selling 1,300 shares during the quarter. Tesla accounts for approximately 8.7% of IvyRock Asset Management HK Ltd’s portfolio, making the stock its 4th biggest position. IvyRock Asset Management HK Ltd’s holdings in Tesla were worth $19,702,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. grew its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter worth approximately $38,000. Cyrus J. Lawrence LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Piper Sandler cut their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada cut their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Price Performance

Tesla stock opened at $278.39 on Tuesday. 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 market capitalization of $895.45 billion, a PE ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm’s 50-day simple moving average is $332.69 and its 200 day simple moving average is $321.49.

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

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the 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. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 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.