Nissay Asset Management Corp Japan ADV Boosts Stock Position in Tesla, Inc. $TSLA

Key Points

• Nissay Asset Management Corp Japan ADV increased its Tesla holdings by 2.6% in Q1, owning 566,210 shares valued at approximately $146.7 million, making it the fund's 18th largest position.
• Several major investors also boosted their Tesla stakes significantly during the same period, with acquisitions from Cherry Tree Wealth Management LLC (86.3%) and Centennial Bank AR (833.3%), indicating rising interest in the company.
• Tesla reported Q2 earnings with an EPS of $0.40, missing expectations, and total revenue of $22.50 billion, down 11.8% year-over-year, reflecting a potential slowdown in its growth trajectory.

Nissay Asset Management Corp Japan ADV boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 566,210 shares of the electric vehicle producer's stock after buying an additional 14,442 shares during the quarter. Tesla makes up about 1.0% of Nissay Asset Management Corp Japan ADV's holdings, making the stock its 18th largest position. Nissay Asset Management Corp Japan ADV's holdings in Tesla were worth $146,739,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its holdings 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 during the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the first quarter worth about $27,000. Finally, Centennial Bank AR grew its holdings 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 purchasing an additional 100 shares during 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 issued reports on TSLA shares. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Canaccord Genuity Group raised their price objective on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, July 24th. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $303.31.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $338.53 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.09 trillion, a P/E ratio of 195.68, a PEG ratio of 11.66 and a beta of 2.06. Tesla, Inc. has a 52 week low of $210.51 and a 52 week high of $488.54. The company has a 50-day moving average price of $323.45 and a 200 day moving average price of $302.67.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,564 shares of company stock valued at $49,396,070 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

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.

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