Korea Investment CORP Increases Stake in Tesla, Inc. $TSLA

by · The Markets Daily

Korea Investment CORP lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,273,321 shares of the electric vehicle producer’s stock after purchasing an additional 99,315 shares during the period. Tesla accounts for about 1.4% of Korea Investment CORP’s portfolio, making the stock its 10th largest position. Korea Investment CORP’s holdings in Tesla were worth $589,154,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter valued at about $27,000. Finally, True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.5%

TSLA stock opened at $330.56 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $320.41 and a two-hundred day moving average price of $304.57. The company has a market cap of $1.07 trillion, a price-to-earnings ratio of 191.08, a P/E/G ratio of 11.49 and a beta of 2.33. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TSLA shares. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Raymond James Financial cut Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Cantor Fitzgerald decreased their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group raised their target price on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $303.31.

Get Our Latest Stock Analysis on Tesla

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 in the last ninety days. 20.70% of the stock is owned by company insiders.

Tesla Profile

(Free Report)

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.

Further Reading

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