Nippon Life Global Investors Americas Inc. Buys 2,320 Shares of Tesla, Inc. $TSLA

Key Points

• Nippon Life Global Investors Americas Inc. increased its stake in Tesla by 4.2%, owning a total of 57,290 shares valued at approximately $14.85 million after purchasing an additional 2,320 shares in the first quarter.
• Several other institutional investors have also increased their stakes in Tesla, with notable increases including Centennial Bank AR growing their stake by 833.3%.
• Tesla's stock has experienced fluctuations, with a current price of $338.53, a 1-year low of $210.51, and a 1-year high of $488.54.

Nippon Life Global Investors Americas Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,290 shares of the electric vehicle producer's stock after purchasing an additional 2,320 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in Tesla were worth $14,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla in the first quarter worth about $27,000. Finally, Centennial Bank AR grew its stake in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TSLA shares. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Glj Research restated a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Mizuho dropped their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Price Performance

Tesla stock opened at $338.53 on Friday. Tesla, Inc. has a 1 year low of $210.51 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company's fifty day moving average price is $323.45 and its 200 day moving average price is $302.67. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 195.68, a P/E/G ratio of 11.66 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,564 shares of company stock valued at $49,396,070 over the last 90 days. 20.70% of the stock is owned by insiders.

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.

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