Norinchukin Bank The Grows Stake in Tesla, Inc. $TSLA

Key Points

• Norinchukin Bank The increased its stake in Tesla, Inc. by 32.0%, owning 183,001 shares valued at approximately $47.4 million.
• Insider selling was notable, with Tesla's CFO Vaibhav Taneja selling 6,000 shares and Director Kimbal Musk selling 91,588 shares, representing significant decreases in their holdings.
• Analysts have mixed views on Tesla, with a consensus rating of "Hold" and price targets ranging from $115.00 to $320.00, indicating differing opinions on the stock's future performance.

Norinchukin Bank The boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183,001 shares of the electric vehicle producer's stock after purchasing an additional 44,346 shares during the quarter. Tesla comprises 0.9% of Norinchukin Bank The's portfolio, making the stock its 19th biggest holding. Norinchukin Bank The's holdings in Tesla were worth $47,427,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank grew its position 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 valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its position 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 valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter worth about $27,000. Finally, True Wealth Design LLC lifted its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 in the last 90 days. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. HSBC restated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

Tesla stock opened at $323.90 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 187.23, a price-to-earnings-growth ratio of 11.45 and a beta of 2.33. The firm has a 50-day moving average of $320.96 and a two-hundred day moving average of $304.40. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54.

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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.

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