Norinchukin Bank The Has $55.99 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Norinchukin Bank The grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,655 shares of the electric vehicle producer's stock after purchasing an additional 8,168 shares during the period. Tesla accounts for about 1.2% of Norinchukin Bank The's investment portfolio, making the stock its 13th largest position. Norinchukin Bank The's holdings in Tesla were worth $55,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TSLA. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the 4th quarter worth $38,000. Delos Wealth Advisors LLC raised its position in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock worth $40,000 after buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TSLA shares. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Royal Bank of Canada lowered their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Truist Financial reduced their target price on shares of Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $283.24.

Tesla Price Performance

Shares of TSLA stock traded up $19.17 during midday trading on Wednesday, reaching $257.14. 112,884,750 shares of the company were exchanged, compared to its average volume of 96,177,634. The company's 50 day moving average price is $269.39 and its two-hundred day moving average price is $322.54. 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 company has a market cap of $827.10 billion, a P/E ratio of 126.05, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12 month low of $141.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by insiders.

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.