Daiwa Securities Group Inc. reduced its holdings in Tesla Inc (NASDAQ:TSLA) by 36.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,310 shares of the electric vehicle producer’s stock after selling 15,018 shares during the period. Daiwa Securities Group Inc.’s holdings in Tesla were worth $8,758,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpha Windward LLC acquired a new position in Tesla in the fourth quarter valued at approximately $26,000. Gradient Investments LLC lifted its holdings in Tesla by 1,660.0% in the fourth quarter. Gradient Investments LLC now owns 88 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 83 shares during the period. Intercontinental Wealth Advisors LLC acquired a new position in Tesla in the fourth quarter valued at approximately $30,000. Financial Gravity Companies Inc. acquired a new position in Tesla in the fourth quarter valued at approximately $32,000. Finally, Clean Yield Group bought a new stake in Tesla in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 56.94% of the company’s stock.
In related news, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction on Monday, January 28th. The shares were sold at an average price of $293.66, for a total transaction of $4,404,900.00. Following the completion of the transaction, the insider now owns 321,398 shares in the company, valued at $94,381,736.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $305.42, for a total transaction of $305,420.00. Following the transaction, the insider now owns 8,860 shares of the company’s stock, valued at approximately $2,706,021.20. The disclosure for this sale can be found here. Insiders have sold 83,070 shares of company stock valued at $26,968,398 in the last 90 days. 22.80% of the stock is currently owned by corporate insiders.
Several equities research analysts have commented on TSLA shares. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “strong-buy” rating and set a $381.00 target price for the company in a research note on Tuesday, October 30th. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $225.00 target price (up previously from $195.00) on shares of Tesla in a research note on Thursday, October 25th. UBS Group reaffirmed a “sell” rating and issued a $230.00 target price on shares of Tesla in a research note on Tuesday, November 20th. Goldman Sachs Group reaffirmed a “sell” rating and issued a $225.00 target price on shares of Tesla in a research note on Tuesday, January 22nd. Finally, JMP Securities started coverage on shares of Tesla in a research note on Wednesday, October 24th. They issued an “outperform” rating and a $350.00 target price for the company. Fourteen analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $328.46.
Shares of TSLA stock opened at $312.84 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 1.82. Tesla Inc has a 12-month low of $244.59 and a 12-month high of $387.46. The firm has a market cap of $52.52 billion, a PE ratio of -54.69, a P/E/G ratio of 4.61 and a beta of 0.56.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.93. Tesla had a negative net margin of 4.55% and a negative return on equity of 19.08%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the prior year, the firm earned ($3.04) earnings per share. The firm’s revenue was up 119.8% compared to the same quarter last year. On average, research analysts anticipate that Tesla Inc will post 1.89 EPS for the current fiscal year.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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