Nippon Life Global Investors Americas Inc. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Nippon Life Global Investors Americas Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,970 shares of the electric vehicle producer's stock after buying an additional 13,000 shares during the quarter. Tesla makes up 1.0% of Nippon Life Global Investors Americas Inc.'s holdings, making the stock its 29th largest position. Nippon Life Global Investors Americas Inc.'s holdings in Tesla were worth $22,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its stake in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank purchased a new position in shares of Tesla during the 4th quarter valued at approximately $14,420,248,000. FMR LLC grew its stake in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock worth $6,996,871,000 after acquiring an additional 780,026 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 9.8 %

Shares of Tesla stock traded up $25.44 during trading hours on Friday, reaching $284.95. 166,882,151 shares of the company were exchanged, compared to its average volume of 96,136,367. The firm has a market cap of $916.55 billion, a PE ratio of 139.68, 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 $158.36 and a 1 year high of $488.54. The stock's fifty day moving average is $265.36 and its 200 day moving average is $322.18.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the company earned $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction on Monday, March 10th. The shares were 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. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock worth $123,791,123 over the last 90 days. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research report on Friday, January 3rd. Piper Sandler restated an "overweight" rating on shares of Tesla in a report on Tuesday. Finally, Morgan Stanley reaffirmed a "buy" rating and set a $430.00 target price on shares of Tesla in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $287.46.

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.