Tesla, Inc. $TSLA Shares Purchased by Norinchukin Bank The

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 raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 183,001 shares of the electric vehicle producer's stock after acquiring an additional 44,346 shares during the period. Tesla makes up approximately 0.9% of Norinchukin Bank The's holdings, making the stock its 19th biggest position. Norinchukin Bank The's holdings in Tesla were worth $47,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Northern Trust Corp lifted its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after purchasing an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after purchasing an additional 849,091 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 over the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA traded up $8.3310 during midday trading on Monday, hitting $348.3410. The company's stock had a trading volume of 51,627,320 shares, compared to its average volume of 104,548,570. The firm has a market cap of $1.12 trillion, a P/E ratio of 201.50, a P/E/G ratio of 11.82 and a beta of 2.33. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54. The firm's 50 day moving average is $321.27 and its 200-day moving average is $302.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Guggenheim reissued a "sell" rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Benchmark reissued a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $303.31.

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.