Nissay Asset Management Corp Japan ADV Purchases 33,305 Shares of Tesla, Inc. (NASDAQ:TSLA)

Nissay Asset Management Corp Japan ADV increased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,768 shares of the electric vehicle producer’s stock after purchasing an additional 33,305 shares during the period. Tesla makes up approximately 1.5% of Nissay Asset Management Corp Japan ADV’s holdings, making the stock its 14th biggest position. Nissay Asset Management Corp Japan ADV’s holdings in Tesla were worth $238,176,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC increased its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,623 shares of company stock worth $115,600,501. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $334.07 on Wednesday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 163.76, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock’s 50-day simple moving average is $260.85 and its 200-day simple moving average is $328.28.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSLA shares. Morgan Stanley reaffirmed a “buy” rating and set a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Benchmark restated a “buy” rating and set a $350.00 target price on shares of Tesla in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Glj Research restated a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, HSBC decreased their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $287.46.

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.