Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 960,370 shares of the electric vehicle producer’s stock after acquiring an additional 82,667 shares during the period. Tesla comprises approximately 1.4% of Resona Asset Management Co. Ltd.’s holdings, making the stock its 9th biggest position. Resona Asset Management Co. Ltd.’s holdings in Tesla were worth $249,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Navigoe LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $37,000. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Tesla in the 4th quarter valued at about $39,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Canaccord Genuity Group lifted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Argus reissued a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $303.31.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 602,724 shares of company stock valued at $214,176,831 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $339.03 on Tuesday. The firm has a fifty day simple moving average of $318.61 and a 200-day simple moving average of $306.24. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $194.67 and a 1-year high of $488.54. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 195.97, a PEG ratio of 11.46 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.