Vinva Investment Management Ltd Increases Stake in Tesla, Inc.

Vinva Investment Management Ltd has significantly enhanced its investment in Tesla, Inc. (NASDAQ:TSLA - Free Report) by increasing its stake by 59.2% during the third quarter of the year. This information comes from the most recent 13F filing submitted to the Securities and Exchange Commission. As a result of this increase, Vinva now holds a total of 117,457 shares of Tesla's stock, having purchased an additional 43,685 shares in the reporting period.

Tesla currently represents approximately 1.3% of Vinva Investment Management Ltd's overall investment portfolio, making it the ninth largest holding of the firm. Based on the latest filing details, Vinva's investment in Tesla is valued at around $30,593,000.

Other Institutional Investors' Movements

A number of other large institutional investors have also adjusted their positions regarding Tesla shares recently. For example, Elite Wealth Management Inc. increased its stake by 4.9% during the third quarter and now holds 3,809 shares valued at approximately $997,000 after acquiring an additional 178 shares. Likewise, UBS Asset Management Americas LLC increased its stake by 13.7%, bringing their total to over 24 million shares valued at roughly $6.38 billion after adding nearly 2.95 million shares during the same period.

Noesis Capital Management Corp also increased its holdings, albeit by a more modest 0.9%, now owning 33,515 shares worth around $8.77 million after purchasing an additional 285 shares. Public Sector Pension Investment Board made an even larger increase, boosting its stake by 65.5%, resulting in ownership of 344,463 shares valued at approximately $90.12 million after acquiring an additional 136,340 shares.

Fiduciary Trust Co also increased its stake by 15.5%, holding 10,594 shares worth roughly $2.77 million after purchasing an additional 1,425 shares. Currently, institutional investors and hedge funds hold about 66.20% of Tesla's stock.

Price Target Analyses

Shares of Tesla have been the topic of various analysts' reports recently. Guggenheim raised its price target for Tesla shares from $153.00 to $156.00 but maintains a 'sell' recommendation. Stifel Nicolaus, on the other hand, increased their price target from $265.00 to $287.00, assigning a 'buy' rating.

Meanwhile, JPMorgan Chase & Co. raised its target from $130.00 to $135.00 and maintained an 'underweight' rating. Robert W. Baird reaffirmed an 'outperform' rating with a price objective of $280.00. Lastly, Sanford C. Bernstein reasserted an 'underperform' rating and set a target price of $120.00.

Overall, the consensus rating on Tesla from nine analysts is 'sell,' with eighteen analysts giving a 'hold' rating and fourteen analysts affirming a 'buy' rating. Data from MarketBeat indicates a general consensus price target for Tesla of $231.06.

Tesla Insider Transactions

In related news concerning Tesla, CFO Vaibhav Taneja sold 4,000 shares on November 11th at an average price of $350.00, amounting to a total transaction value of $1.4 million. After this transaction, the CFO possesses 105,032 shares valued at approximately $36.76 million, reflecting a decrease of 3.67% in his position. This insider transaction has been disclosed in a filing with the SEC. Similarly, Director Kimbal Musk sold 60,500 shares at an average price of $250.23 for about $15.14 million total. Post-sale, he owns 1,563,220 shares valued around $391.16 million, a decrease of 3.73% in his stake since the sale. Overall, corporate insiders have sold a total of 301,187 shares over the last three months, valued at nearly $93 million, with insiders owning around 20.70% of Tesla stock.

Tesla's Stock Performance Overview

As of Thursday, Tesla shares opened at $332.89. The company's 50-day moving average stands at $270.63, while the 200-day moving average is at $229.89. In terms of financial ratios, Tesla has a current ratio of 1.84, a quick ratio of 1.37, and a debt-to-equity ratio of 0.08. The market capitalization for Tesla is currently about $1.07 trillion, with a price-to-earnings (PE) ratio of 91.20. The stock has experienced a 52-week low of $138.80 and a high of $361.93.

Tesla reported its latest earnings on October 23rd, where it announced earnings per share (EPS) of $0.72, surpassing the analysts' consensus estimate of $0.58 by $0.14. The reported revenue for this quarter was $25.18 billion, slightly below the average expectation of $25.47 billion. Over the last year, Tesla's revenue has increased by 7.8%, with anticipations set for EPS of 1.99 in the current fiscal year.

About Tesla

Tesla, Inc. is a company that specializes in designing, developing, manufacturing, leasing, and selling electric vehicles and energy generation and storage systems both within the United States and internationally. It operates through two segments: Automotive and Energy Generation and Storage, providing a comprehensive scope of services and products associated with electric vehicles and energy solutions.

Tesla, Investment, Shares