Factory Mutual Insurance Co. Buys 38,200 Shares of Tesla, Inc. (NASDAQ:TSLA)

Factory Mutual Insurance Co. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 269,400 shares of the electric vehicle producer’s stock after acquiring an additional 38,200 shares during the period. Tesla makes up 1.2% of Factory Mutual Insurance Co.’s investment portfolio, making the stock its 17th largest holding. Factory Mutual Insurance Co.’s holdings in Tesla were worth $108,794,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at $29,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the last quarter. Finally, Mendota Financial Group LLC purchased a new stake in Tesla during the third quarter valued at approximately $64,000. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 553,386 shares of company stock valued at $196,305,796. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 2.2 %

NASDAQ TSLA opened at $392.21 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a 50 day moving average price of $405.12 and a 200 day moving average price of $300.65. 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 cap of $1.26 trillion, a PE ratio of 192.26, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued 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%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. UBS Group increased their price objective on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $318.31.

Tesla 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.