Tokio Marine Asset Management Co. Ltd. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,342 shares of the electric vehicle producer’s stock after buying an additional 5,064 shares during the quarter. Tesla accounts for about 0.9% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 26th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Tesla were worth $20,758,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings 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 worth $6,399,000 after buying an additional 331 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Tesla by 0.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 34,682 shares of the electric vehicle producer’s stock worth $6,097,000 after acquiring an additional 157 shares during the period. Orion Portfolio Solutions LLC grew its stake in Tesla by 12.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 77,359 shares of the electric vehicle producer’s stock valued at $13,599,000 after purchasing an additional 8,534 shares during the last quarter. Private Portfolio Partners LLC increased its holdings in shares of Tesla by 21.0% in the first quarter. Private Portfolio Partners LLC now owns 2,077 shares of the electric vehicle producer’s stock valued at $365,000 after purchasing an additional 360 shares during the period. Finally, Brighton Jones LLC raised its stake in shares of Tesla by 19.5% in the first quarter. Brighton Jones LLC now owns 72,529 shares of the electric vehicle producer’s stock worth $12,750,000 after purchasing an additional 11,826 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 2.3 %

Shares of TSLA stock traded down $7.66 during trading on Thursday, hitting $322.58. 14,769,805 shares of the stock traded hands, compared to its average volume of 95,464,961. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 90.48, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. 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 firm’s fifty day moving average price is $248.48 and its 200-day moving average price is $218.94.

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

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 over the last 90 days. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on TSLA shares. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Barclays upped their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $228.24.

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.