Mitsubishi UFJ Trust & Banking Corp Sells 42,655 Shares of Tesla, Inc. $TSLA

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,369,841 shares of the electric vehicle producer’s stock after selling 42,655 shares during the quarter. Tesla makes up about 1.0% of Mitsubishi UFJ Trust & Banking Corp’s portfolio, making the stock its 10th largest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in Tesla were worth $435,144,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in TSLA. Chelsea Counsel Co. increased its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC bought a new stake in Tesla in the 2nd quarter valued at $29,000. Evergreen Private Wealth LLC grew its position in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Glynn Capital Management LLC bought a new position in shares of Tesla during the 2nd quarter worth about $35,000. Finally, Pacific Center for Financial Services raised its position in shares of Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after buying an additional 46 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLA. DZ Bank restated a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Dbs Bank raised Tesla to a “hold” rating in a research report on Wednesday, November 5th. President Capital increased their price objective on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Wedbush reiterated an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $391.08.

Tesla Price Performance

Shares of Tesla stock opened at $439.62 on Wednesday. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 293.08, a P/E/G ratio of 16.84 and a beta of 2.06. The firm’s 50-day moving average price is $425.40 and its two-hundred day moving average price is $358.68. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 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.