Tesla, Inc. (NASDAQ:TSLA) is Nikko Asset Management Americas Inc.’s 5th Largest Position

Nikko Asset Management Americas Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 38.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,184,393 shares of the electric vehicle producer’s stock after selling 726,321 shares during the quarter. Tesla comprises about 5.2% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 5th biggest holding. Nikko Asset Management Americas Inc.’s holdings in Tesla were worth $478,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter worth approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the 4th quarter worth approximately $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter worth approximately $47,000. PayPay Securities Corp boosted its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in shares of Tesla in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Morgan Stanley reiterated a “top pick” rating and issued a $430.00 price target on shares of Tesla in a report on Monday, March 3rd. UBS Group reduced their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Barclays boosted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. New Street Research raised shares of 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. Finally, Royal Bank of Canada reiterated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $325.65.

Tesla Price Performance

Shares of Tesla stock opened at $249.98 on Monday. The firm has a market cap of $804.06 billion, a PE ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average price of $351.31 and a 200 day moving average price of $320.31. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its 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 net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.