Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 137,136 shares of the electric vehicle producer’s stock after selling 8,764 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Tesla were worth $27,136,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter worth $26,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the fourth quarter valued at $37,000. Guardian Wealth Management Inc. bought a new stake in shares of Tesla during the fourth quarter valued at about $47,000. Finally, Kessler Investment Group LLC lifted its holdings in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.2 %

Tesla stock opened at $230.29 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company’s fifty day moving average price is $223.37 and its two-hundred day moving average price is $194.66. The company has a market capitalization of $735.69 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.03 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday. Truist Financial reiterated a “hold” rating and issued a $215.00 target price on shares of Tesla in a report on Wednesday, August 14th. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $209.60.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

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.