Asset Management One Co. Ltd. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Asset Management One Co. Ltd. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,209,070 shares of the electric vehicle producer’s stock after acquiring an additional 32,580 shares during the quarter. Tesla makes up about 1.8% of Asset Management One Co. Ltd.’s investment portfolio, making the stock its 7th biggest position. Asset Management One Co. Ltd.’s holdings in Tesla were worth $521,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter valued at about $35,000. PayPay Securities Corp grew its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of 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 valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finally, Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter valued at about $64,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Mizuho restated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Robert W. Baird dropped their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Piper Sandler lifted their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group lifted their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $326.50.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $355.84 on Monday. The company has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. 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 50 day moving average of $406.31 and a 200 day moving average of $308.24.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. On average, sell-side analysts predict that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

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.