Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. increased its stake in Tesla, Inc. by 30.7%, holding a total of 1,548,366 shares, valued at approximately $401.2 million as of the end of the last quarter.
• Tesla reported $0.40 EPS for the last quarter, missing estimates by $0.03, with a revenue of $22.5 billion, down 11.8% year-over-year.
• Insider transactions indicate a notable sell-off, with executives selling over 835,000 shares in the past three months, representing a trend that could influence investor sentiment.

Nikko Asset Management Americas Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,548,366 shares of the electric vehicle producer's stock after purchasing an additional 363,973 shares during the quarter. Tesla comprises approximately 5.1% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 5th largest position. Nikko Asset Management Americas Inc.'s holdings in Tesla were worth $401,213,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth $331,000. Brighton Jones LLC increased its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla in the 4th quarter worth $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in shares of Tesla in the 4th quarter worth $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 3.5%

NASDAQ:TSLA opened at $316.06 on Friday. The firm has a market cap of $1.02 trillion, a P/E ratio of 182.69, a PEG ratio of 11.59 and a beta of 2.39. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $324.70 and its 200-day simple moving average is $314.65. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the firm posted $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction 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 owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last three months. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $302.75.

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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