Tesla, Inc. (NASDAQ:TSLA) is Rakuten Securities Inc.’s 3rd Largest Position

Rakuten Securities Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,918 shares of the electric vehicle producer’s stock after selling 2,584 shares during the quarter. Tesla accounts for approximately 8.1% of Rakuten Securities Inc.’s investment portfolio, making the stock its 3rd largest holding. Rakuten Securities Inc.’s holdings in Tesla were worth $18,554,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tyler Stone Wealth Management grew its stake in Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Scott & Selber Inc. lifted its position in Tesla by 80.3% during the third quarter. Scott & Selber Inc. now owns 12,659 shares of the electric vehicle producer’s stock valued at $3,312,000 after acquiring an additional 5,639 shares during the last quarter. Finally, AIA Group Ltd boosted its stake in Tesla by 10.1% in the third quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock valued at $21,813,000 after acquiring an additional 7,655 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % 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. In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,797 shares of company stock worth $19,211,821 in the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. Citigroup decreased their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus raised their price target on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Jefferies Financial Group boosted their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Guggenheim raised their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $225.06.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $350.00 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The firm has a market capitalization of $1.12 trillion, a PE ratio of 95.89, a P/E/G ratio of 10.59 and a beta of 2.29. The business’s 50 day moving average price is $243.90 and its 200-day moving average price is $217.03.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal 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.