FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,620 shares of the electric vehicle producer’s stock after acquiring an additional 220 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Tesla were worth $2,555,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Jennison Associates LLC boosted its stake in Tesla by 384.5% in the third quarter. Jennison Associates LLC now owns 18,743,418 shares of the electric vehicle producer’s stock valued at $8,041,114,000 after acquiring an additional 14,874,676 shares during the period. Nuveen Asset Management LLC boosted its stake in Tesla by 267.9% in the third quarter. Nuveen Asset Management LLC now owns 5,278,127 shares of the electric vehicle producer’s stock valued at $2,264,369,000 after acquiring an additional 3,843,488 shares during the period. ARK Investment Management LLC boosted its stake in Tesla by 381.6% in the third quarter. ARK Investment Management LLC now owns 3,430,778 shares of the electric vehicle producer’s stock valued at $1,471,838,000 after acquiring an additional 2,718,430 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Tesla by 437.8% in the third quarter. UBS Asset Management Americas Inc. now owns 2,973,414 shares of the electric vehicle producer’s stock valued at $1,275,624,000 after acquiring an additional 2,420,573 shares during the period. Finally, Swiss National Bank boosted its stake in Tesla by 395.0% in the third quarter. Swiss National Bank now owns 2,887,865 shares of the electric vehicle producer’s stock valued at $1,238,923,000 after acquiring an additional 2,304,512 shares during the period. Institutional investors own 41.39% of the company’s stock.
In other Tesla news, CAO Vaibhav Taneja sold 4,463 shares of the firm’s stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $762.99, for a total transaction of $3,405,224.37. Following the completion of the sale, the chief accounting officer now directly owns 16,728 shares in the company, valued at approximately $12,763,296.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $837.74, for a total value of $1,047,175.00. Following the sale, the chief financial officer now owns 56,257 shares of the company’s stock, valued at $47,128,739.18. The disclosure for this sale can be found here. Insiders sold 143,033 shares of company stock valued at $78,547,823 in the last 90 days. Corporate insiders own 23.00% of the company’s stock.
Several brokerages have recently issued reports on TSLA. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Tesla from $117.00 to $137.00 and gave the stock a “sell” rating in a research report on Tuesday, October 27th. Roth Capital reiterated a “neutral” rating and set a $150.00 price objective on shares of Tesla in a research report on Thursday. Zacks Investment Research upgraded Tesla from a “hold” rating to a “strong-buy” rating and set a $747.00 price objective for the company in a research report on Tuesday, December 22nd. Royal Bank of Canada upgraded Tesla from an “underperform” rating to a “sector perform” rating in a research report on Thursday, January 7th. Finally, BNP Paribas downgraded Tesla from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $385.00 to $340.00 in a research report on Tuesday, January 5th. Twelve analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $326.29.
Shares of NASDAQ TSLA traded down $27.16 during trading on Thursday, hitting $837.00. The company had a trading volume of 992,111 shares, compared to its average volume of 37,865,918. The company has a market cap of $793.39 billion, a P/E ratio of 1,675.70, a PEG ratio of 8.81 and a beta of 2.18. Tesla, Inc. has a 52 week low of $70.10 and a 52 week high of $900.40. The business’s 50-day moving average is $742.51 and its 200 day moving average is $494.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.32 and a current ratio of 1.63.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 27th. The electric vehicle producer reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.17. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Tesla had a return on equity of 4.93% and a net margin of 1.97%. The firm’s revenue was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, research analysts expect that Tesla, Inc. will post 1.02 EPS for the current year.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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