Norinchukin Bank The Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Norinchukin Bank The raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,655 shares of the electric vehicle producer’s stock after acquiring an additional 8,168 shares during the quarter. Tesla makes up 1.2% of Norinchukin Bank The’s investment portfolio, making the stock its 13th largest position. Norinchukin Bank The’s holdings in Tesla were worth $55,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC grew its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its stake in Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This trade represents a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock worth $123,791,123 in the last three months. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an “underperform” rating in a research report on Wednesday. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. UBS Group decreased their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research report on Monday, March 17th. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $292.18.

Tesla Stock Performance

TSLA stock opened at $241.17 on Friday. The stock’s fifty day moving average is $273.93 and its two-hundred day moving average is $322.21. The stock has a market capitalization of $775.71 billion, a price-to-earnings ratio of 118.22, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.