Mitsubishi UFJ Trust & Banking Corp Has $642.85 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,591,832 shares of the electric vehicle producer's stock after selling 14,484 shares during the quarter. Tesla comprises about 1.5% of Mitsubishi UFJ Trust & Banking Corp's investment portfolio, making the stock its 7th biggest holding. Mitsubishi UFJ Trust & Banking Corp's holdings in Tesla were worth $642,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after purchasing an additional 194,796 shares during the period. United Bank purchased a new position in Tesla during the third quarter valued at approximately $287,000. Massachusetts Financial Services Co. MA boosted its position in shares of Tesla by 61.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer's stock worth $30,151,000 after purchasing an additional 43,950 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Tesla by 21.6% in the third quarter. Eagle Asset Management Inc. now owns 31,232 shares of the electric vehicle producer's stock worth $8,171,000 after purchasing an additional 5,545 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $3,194,000. 66.20% of the stock is currently owned by institutional investors.

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Tesla Trading Up 3.4 %

TSLA traded up $9.56 during trading hours on Tuesday, reaching $287.95. 148,758,365 shares of the company's stock traded hands, compared to its average volume of 91,639,279. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $330.52 and a 200 day moving average price of $322.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market capitalization of $926.20 billion, a PE ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on TSLA shares. Guggenheim decreased their price target on Tesla from $175.00 to $170.00 and set a "sell" rating on the stock in a report on Wednesday, March 12th. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Canaccord Genuity Group restated a "buy" rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and increased their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Barclays boosted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $318.93.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % 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, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla 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.