ING Groep NV Acquires 91,959 Shares of Tesla, Inc. $TSLA

ING Groep NV increased its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 818,657 shares of the electric vehicle producer’s stock after purchasing an additional 91,959 shares during the quarter. Tesla comprises about 2.0% of ING Groep NV’s portfolio, making the stock its 8th biggest holding. ING Groep NV’s holdings in Tesla were worth $364,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its stake in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC boosted its stake in Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla during the 2nd quarter valued at $11,839,824,000. Legal & General Group Plc raised its stake in shares of Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after buying an additional 1,134,678 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after buying an additional 3,422,270 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 1.9%

Tesla stock opened at $425.21 on Wednesday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 393.71, a P/E/G ratio of 13.98 and a beta of 1.86. The company has a 50 day moving average price of $446.11 and a 200 day moving average price of $413.26.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $24.90 billion during the quarter, compared to analyst estimates of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Roth Mkm set a $505.00 target price on Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Bank of America lifted their price objective on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Wells Fargo & Company cut their target price on shares of Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. China Renaissance raised their target price on shares of Tesla from $380.00 to $382.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Finally, BNP Paribas Exane upped their price target on Tesla from $307.00 to $313.00 in a report on Monday, December 1st. Seventeen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $403.92.

Check Out Our Latest Research Report on Tesla

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 119,457 shares of company stock valued at $53,501,145. Corporate insiders own 19.90% of the company’s stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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