Meiji Yasuda Asset Management Co Ltd. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,556 shares of the electric vehicle producer’s stock after buying an additional 5,435 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Tesla were worth $16,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter valued at $37,000. Kessler Investment Group LLC boosted its stake in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. Finally, Aspect Partners LLC grew its holdings in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $227.87 on Wednesday. The firm’s fifty day simple moving average is $222.16 and its 200-day simple moving average is $194.93. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.93. The stock has a market capitalization of $726.72 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. The Goldman Sachs Group cut their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price target for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Finally, Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $209.60.

Check Out Our Latest Stock Report on TSLA

Tesla Profile

(Free Report)

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.

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