Rakuten Securities Inc. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Rakuten Securities Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,724 shares of the electric vehicle producer's stock after selling 43,664 shares during the period. Tesla makes up 8.2% of Rakuten Securities Inc.'s holdings, making the stock its 2nd biggest holding. Rakuten Securities Inc.'s holdings in Tesla were worth $16,256,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its stake in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tesla by 4,963.0% in the fourth 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 buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its stake 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 buying an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TSLA shares. UBS Group cut their price target on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group cut their price target on Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Benchmark reissued a "buy" rating and set a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada cut their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Price Performance

Shares of TSLA opened at $329.13 on Tuesday. Tesla, Inc. has a 52-week low of $177.00 and a 52-week high of $488.54. 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 business's 50 day moving average price is $301.53 and its two-hundred day moving average price is $332.77. The firm has a market cap of $1.06 trillion, a PE ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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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