FUKOKU MUTUAL LIFE INSURANCE Co Sells 881 Shares of Tesla, Inc. $TSLA

FUKOKU MUTUAL LIFE INSURANCE Co reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the 2nd quarter, Holdings Channel reports. The firm owned 11,140 shares of the electric vehicle producer’s stock after selling 881 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Tesla were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC acquired a new stake in Tesla during the second quarter valued at approximately $29,000. Evergreen Private Wealth LLC boosted its holdings in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $35,000. Finally, LSV Asset Management raised its holdings in shares of Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 96 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TSLA shares. Barclays reiterated a “negative” rating and issued a $350.00 price target (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Bank of America raised their price objective on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $394.31.

Tesla Trading Up 0.6%

TSLA opened at $403.82 on Thursday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The stock has a market capitalization of $1.34 trillion, a PE ratio of 269.21, a PEG ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $433.12 and a two-hundred day moving average price of $363.32.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Company 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.