Dai ichi Life Insurance Company Ltd Sells 4,111 Shares of Tesla, Inc. (NASDAQ:TSLA)

Dai ichi Life Insurance Company Ltd decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,025 shares of the electric vehicle producer’s stock after selling 4,111 shares during the period. Tesla accounts for about 0.9% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 16th biggest position. Dai ichi Life Insurance Company Ltd’s holdings in Tesla were worth $34,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after acquiring an additional 331 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of Tesla by 69.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 55,245 shares of the electric vehicle producer’s stock valued at $9,712,000 after purchasing an additional 22,624 shares in the last quarter. Ancora Advisors LLC increased its holdings in shares of Tesla by 4.7% in the first quarter. Ancora Advisors LLC now owns 6,585 shares of the electric vehicle producer’s stock worth $1,158,000 after purchasing an additional 294 shares during the period. Creekmur Asset Management LLC raised its position in shares of Tesla by 65.2% in the first quarter. Creekmur Asset Management LLC now owns 889 shares of the electric vehicle producer’s stock worth $156,000 after buying an additional 351 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in Tesla during the first quarter worth about $323,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 4.0 %

Shares of TSLA opened at $338.59 on Tuesday. The firm has a market cap of $1.09 trillion, a P/E ratio of 92.76, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a 50 day simple moving average of $266.31 and a two-hundred day simple moving average of $227.97.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $231.06.

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.