Daiwa Securities Group Inc. Purchases 130,237 Shares of Tesla, Inc. (NASDAQ:TSLA)

Daiwa Securities Group Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 29.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 578,059 shares of the electric vehicle producer’s stock after acquiring an additional 130,237 shares during the quarter. Tesla accounts for 0.9% of Daiwa Securities Group Inc.’s portfolio, making the stock its 28th biggest holding. Daiwa Securities Group Inc.’s holdings in Tesla were worth $143,636,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TSLA. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter valued at $25,000. Lam Group Inc. bought a new position in Tesla in the 4th quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla in the 3rd quarter worth $27,000. MayTech Global Investments LLC purchased a new stake in shares of Tesla in the 4th quarter worth $30,000. Finally, Perkins Coie Trust Co lifted its holdings in shares of Tesla by 72.0% in the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 54 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Jefferies Financial Group lowered their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Sanford C. Bernstein lowered their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. TD Cowen decreased their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. JPMorgan Chase & Co. decreased their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $298.00 price objective on shares of Tesla in a research note on Wednesday, March 27th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $197.15.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last ninety days. Company insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock traded down $1.66 during mid-day trading on Wednesday, reaching $155.45. The stock had a trading volume of 82,283,222 shares, compared to its average volume of 101,923,211. The business’s fifty day moving average is $180.88 and its 200-day moving average is $213.04. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $495.08 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 4.25 and a beta of 2.39. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 1.98 earnings per share 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.