Mitsubishi UFJ Asset Management UK Ltd. Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Mitsubishi UFJ Asset Management UK Ltd. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 38.5% during the first quarter, Holdings Channel reports. The firm owned 5,900 shares of the electric vehicle producer’s stock after selling 3,700 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Tesla were worth $1,529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Northern Trust Corp grew its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock worth $9,908,828,000 after purchasing an additional 158,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $339.38 on Thursday. The firm has a market cap of $1.09 trillion, a P/E ratio of 196.17, a P/E/G ratio of 11.85 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $198.75 and a 1-year high of $488.54. The firm has a fifty day moving average of $318.69 and a two-hundred day moving average of $306.71.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Canaccord Genuity Group upped their target price on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. BNP Paribas set a $137.00 target price on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $303.31.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 602,724 shares of company stock valued at $214,176,831. Corporate insiders own 20.70% 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.