Daiwa Securities Group Inc. Sells 826,453 Shares of Tesla, Inc. (NASDAQ:TSLA)

Daiwa Securities Group Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 62.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 489,507 shares of the electric vehicle producer’s stock after selling 826,453 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tesla were worth $128,070,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP boosted its holdings in shares of Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. William Blair began coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $230.18.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $352.56 on Friday. The firm has a market capitalization of $1.13 trillion, a PE ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29. The stock’s fifty day moving average is $264.07 and its 200 day moving average is $226.43. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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

About Tesla

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.