Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 133,025 shares of the electric vehicle producer’s stock after selling 4,111 shares during the period. Tesla comprises about 0.9% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 16th biggest position. Dai ichi Life Insurance Company Ltd’s holdings in Tesla were worth $34,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Connable Office Inc. raised its position in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners increased its stake in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares in the last quarter. Integris Wealth Management LLC lifted its position in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its stake in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. raised its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $338.59 on Tuesday. The stock’s 50-day simple moving average is $266.31 and its 200-day simple moving average is $227.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.09 trillion, a PE ratio of 92.76, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $231.06.

Tesla 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.