Global X Japan Co. Ltd. Has $38.25 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Global X Japan Co. Ltd. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 94,705 shares of the electric vehicle producer’s stock after selling 74,941 shares during the period. Tesla makes up 4.8% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 6th biggest holding. Global X Japan Co. Ltd.’s holdings in Tesla were worth $38,246,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. Finley Financial LLC bought a new position in shares of Tesla during the 4th quarter worth about $64,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after acquiring an additional 176 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 3.0 %

NASDAQ TSLA opened at $350.73 on Tuesday. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock’s 50 day moving average price is $408.27 and its two-hundred day moving average price is $304.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Piper Sandler upped their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $321.71.

Insider Activity

In related news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 635,776 shares of company stock worth $231,335,112 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

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.