Tesla, Inc. (NASDAQ:TSLA) Position Trimmed by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,974 shares of the electric vehicle producer’s stock after selling 3,967 shares during the quarter. Tesla makes up 0.4% of Meiji Yasuda Life Insurance Co’s investment portfolio, making the stock its 22nd largest holding. Meiji Yasuda Life Insurance Co’s holdings in Tesla were worth $19,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the 2nd quarter valued at about $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Guardian Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter worth approximately $47,000. Finally, Kessler Investment Group LLC lifted its holdings in Tesla by 35.9% in 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. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $227.87 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market cap of $726.72 billion, a P/E ratio of 58.13, a P/E/G ratio of 6.08 and a beta of 2.29. The business’s fifty day moving average is $222.16 and its two-hundred day moving average is $194.93. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. Equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, 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 value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, 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 transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday. Argus restated a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Thursday, September 5th. Wolfe Research assumed coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Citigroup reduced their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla 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.