Tesla Inc. (TSLA) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. lowered its position in Tesla Inc. (NASDAQ:TSLA) by 13.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,090 shares of the electric vehicle producer’s stock after selling 312 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Tesla were worth $713,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its position in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock worth $25,129,000 after acquiring an additional 1,802 shares in the last quarter. Main Street Research LLC purchased a new position in Tesla in the second quarter worth $602,000. CIBC World Markets Inc. grew its position in Tesla by 74.2% in the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after acquiring an additional 4,504 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Tesla in the second quarter worth $681,000. Finally, Aperio Group LLC grew its position in Tesla by 16.9% in the second quarter. Aperio Group LLC now owns 29,536 shares of the electric vehicle producer’s stock worth $10,680,000 after acquiring an additional 4,274 shares in the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the sale, the director now owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders have sold 53,182 shares of company stock valued at $18,113,840 in the last three months. 23.10% of the stock is owned by insiders.
Shares of Tesla Inc. (TSLA) opened at $306.09 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.60 and a debt-to-equity ratio of 1.15.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.80%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. research analysts forecast that Tesla Inc. will post -9.53 earnings per share for the current year.
TSLA has been the subject of several research reports. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 target price for the company in a research report on Friday, October 13th. Citigroup Inc initiated coverage on shares of Tesla in a research report on Thursday, July 20th. They issued a “neutral” rating and a $357.00 target price for the company. Morgan Stanley reiterated a “hold” rating and issued a $317.00 target price on shares of Tesla in a research report on Thursday, September 7th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $265.00 target price on shares of Tesla in a research report on Tuesday, October 3rd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research report on Wednesday, July 26th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Tesla currently has a consensus rating of “Hold” and a consensus price target of $330.44.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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