Meiji Yasuda Asset Management Co Ltd. Boosts Stake in Tesla, Inc. $TSLA

by · The Markets Daily

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,019 shares of the electric vehicle producer’s stock after purchasing an additional 334 shares during the period. Tesla comprises about 0.9% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 19th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Tesla were worth $22,293,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Acorn Wealth Advisors LLC raised its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the period. Solutions 4 Wealth Ltd increased its stake in shares of Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after purchasing an additional 36 shares in the last quarter. Capital Management Associates Inc raised its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares during the period. Graney & King LLC lifted its stake in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after buying an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its holdings in Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock worth $278,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.6%

Shares of TSLA opened at $350.84 on Monday. The stock has a market capitalization of $1.13 trillion, a PE ratio of 202.80, a P/E/G ratio of 12.24 and a beta of 2.06. The company’s fifty day moving average is $324.00 and its 200 day moving average is $301.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a fifty-two week low of $210.51 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Friday. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Benchmark reiterated a “buy” rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $303.31.

View Our Latest Analysis on Tesla

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,000 shares of company stock worth $48,663,510. Corporate insiders own 20.70% of the company’s stock.

Tesla Company Profile

(Free Report)

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.

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