Tesla, Inc. $TSLA is Global X Japan Co. Ltd.'s 9th Largest Position

Key Points

• Global X Japan Co. Ltd. increased its stake in Tesla, Inc. by 1.2%, holding 106,933 shares valued at approximately $33.97 million, making it Tesla's 9th largest institutional investor.
• Other hedge funds, including Vanguard and Goldman Sachs, also raised their positions in Tesla significantly, indicating growing institutional confidence in the company.
• Tesla's recent earnings report showed an EPS of $0.40, missing estimates, with revenue of $22.50 billion, reflecting an 11.8% decline year-over-year.

Global X Japan Co. Ltd. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,933 shares of the electric vehicle producer's stock after buying an additional 1,265 shares during the quarter. Tesla makes up about 3.4% of Global X Japan Co. Ltd.'s holdings, making the stock its 9th biggest holding. Global X Japan Co. Ltd.'s holdings in Tesla were worth $33,968,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Weybosset Research & Management LLC purchased a new stake in shares of Tesla in the 2nd quarter worth about $218,000. Lantz Financial LLC grew its position in shares of Tesla by 16.6% in the 2nd quarter. Lantz Financial LLC now owns 1,784 shares of the electric vehicle producer's stock worth $567,000 after buying an additional 254 shares during the period. AA Financial Advisors LLC grew its position in shares of Tesla by 18.9% in the 2nd quarter. AA Financial Advisors LLC now owns 1,152 shares of the electric vehicle producer's stock worth $366,000 after buying an additional 183 shares during the period. Diversified Trust Co boosted its stake in Tesla by 2.5% in the 2nd quarter. Diversified Trust Co now owns 53,192 shares of the electric vehicle producer's stock worth $16,897,000 after purchasing an additional 1,296 shares in the last quarter. Finally, Perpetual Ltd boosted its stake in Tesla by 11.2% in the 2nd quarter. Perpetual Ltd now owns 4,705 shares of the electric vehicle producer's stock worth $1,495,000 after purchasing an additional 475 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Canaccord Genuity Group upped their price target on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group set a $290.00 price target on shares of Tesla in a research note on Monday, June 30th. Mizuho dropped their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Finally, Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and upped their target price for the company from $320.00 to $548.00 in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $317.70.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $9.22 during trading on Friday, hitting $426.07. The company's stock had a trading volume of 92,721,496 shares, compared to its average volume of 86,324,392. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a 50-day moving average of $340.68 and a 200-day moving average of $308.35. 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 released its earnings results 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Tesla's revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts expect 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.