Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,184,393 shares of the electric vehicle producer’s stock after selling 726,321 shares during the period. Tesla accounts for 5.2% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 5th biggest position. Nikko Asset Management Americas Inc.’s holdings in Tesla were worth $478,057,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla in the fourth quarter worth $46,000. Parkworth Wealth Management Inc. bought a new position in Tesla in the fourth quarter worth $47,000. PayPay Securities Corp raised its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in Tesla in the fourth quarter worth $55,000. 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 a number of research reports. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Stifel Nicolaus cut their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $325.65.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 3.9 %

NASDAQ TSLA opened at $249.98 on Monday. The stock’s 50-day moving average price is $351.31 and its 200-day moving average price is $320.31. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts predict 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.