Mizuho Securities Co. Ltd. Cuts Stock Holdings in Tesla, Inc. $TSLA

Mizuho Securities Co. Ltd. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 25.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,970 shares of the electric vehicle producer’s stock after selling 1,040 shares during the quarter. Tesla makes up 3.4% of Mizuho Securities Co. Ltd.’s portfolio, making the stock its 10th largest holding. Mizuho Securities Co. Ltd.’s holdings in Tesla were worth $943,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new stake in Tesla in the first quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Vanguard Group Inc. raised its stake in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. UBS Group reiterated a “sell” rating on shares of Tesla in a report on Friday, November 7th. Stifel Nicolaus increased their target price on shares of Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research note on Monday. CICC Research lifted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Finally, The Goldman Sachs Group cut their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $394.31.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

Tesla Trading Up 0.6%

Tesla stock opened at $403.82 on Thursday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 269.21, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a 50 day moving average price of $433.12 and a 200 day moving average price of $363.32.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS 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.