Asahi Life Asset Management CO. LTD. Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Asahi Life Asset Management CO. LTD. lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,657 shares of the electric vehicle producer’s stock after selling 320 shares during the quarter. Tesla makes up 1.4% of Asahi Life Asset Management CO. LTD.’s holdings, making the stock its 21st largest position. Asahi Life Asset Management CO. LTD.’s holdings in Tesla were worth $2,285,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TSLA. Swedbank AB lifted its position in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Tesla in the third quarter valued at approximately $403,000. Lansing Street Advisors lifted its position in shares of Tesla by 4.0% in the third quarter. Lansing Street Advisors now owns 1,852 shares of the electric vehicle producer’s stock valued at $485,000 after acquiring an additional 72 shares in the last quarter. Blue Square Asset Management LLC lifted its stake in shares of Tesla by 9.0% in the third quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock worth $7,464,000 after buying an additional 2,350 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Tesla by 12.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock worth $213,833,000 after buying an additional 93,389 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $318.77.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,996 shares of company stock valued at $153,721,387 over the last quarter. 20.70% of the stock is owned by insiders.

Tesla Stock Down 2.8 %

TSLA stock opened at $284.65 on Tuesday. The company’s 50 day moving average price is $382.44 and its 200 day moving average price is $318.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $915.58 billion, a price-to-earnings ratio of 139.53, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.