Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in Tesla Inc (NASDAQ:TSLA) by 11.6% during the second quarter, Holdings Channel reports. The fund owned 17,540 shares of the electric vehicle producer’s stock after selling 2,297 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Tesla were worth $6,343,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the company. National Planning Corp boosted its position in Tesla by 11.1% in the second quarter. National Planning Corp now owns 3,919 shares of the electric vehicle producer’s stock valued at $1,382,000 after buying an additional 390 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Tesla by 9.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 216,190 shares of the electric vehicle producer’s stock worth $78,177,000 after buying an additional 18,848 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Tesla by 6.0% in the second quarter. Wetherby Asset Management Inc. now owns 2,345 shares of the electric vehicle producer’s stock worth $848,000 after buying an additional 132 shares during the last quarter. GenTrust LLC purchased a new position in Tesla during the second quarter worth about $734,000. Finally, Trexquant Investment LP purchased a new position in Tesla during the second quarter worth about $341,000. Institutional investors and hedge funds own 63.71% of the company’s stock.
Tesla Inc (NASDAQ:TSLA) opened at 355.40 on Friday. The stock has a 50 day moving average of $341.84 and a 200-day moving average of $306.29. Tesla Inc has a 52-week low of $178.19 and a 52-week high of $386.99. The firm’s market cap is $59.31 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative net margin of 14.39% and a negative return on equity of 26.74%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm earned ($1.06) earnings per share. The business’s quarterly revenue was up 119.6% on a year-over-year basis. On average, analysts expect that Tesla Inc will post ($6.29) EPS for the current year.
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TSLA has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) upped their price objective on Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Dougherty & Co reaffirmed a “buy” rating and set a $375.00 price target (down previously from $500.00) on shares of Tesla in a research report on Wednesday, April 26th. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price on the stock in a report on Tuesday, April 25th. Guggenheim reiterated a “buy” rating and set a $320.00 target price on shares of Tesla in a report on Wednesday, April 19th. Finally, Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $309.70.
In related news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.10% of the stock is owned by corporate insiders.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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