Iyo Bank Ltd. Buys 1,340 Shares of Tesla, Inc. (NASDAQ:TSLA)

Iyo Bank Ltd. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 97.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,720 shares of the electric vehicle producer’s stock after acquiring an additional 1,340 shares during the period. Iyo Bank Ltd.’s holdings in Tesla were worth $478,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV increased its position in shares of Tesla by 4.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 39,186 shares of the electric vehicle producer’s stock valued at $6,888,000 after acquiring an additional 1,504 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Sloy Dahl & Holst LLC boosted its holdings in shares of Tesla by 3.0% in the 1st quarter. Sloy Dahl & Holst LLC now owns 1,152,228 shares of the electric vehicle producer’s stock worth $202,550,000 after buying an additional 33,733 shares during the last quarter. Integrity Wealth Solutions LLC grew its position in Tesla by 3.1% during the first quarter. Integrity Wealth Solutions LLC now owns 11,495 shares of the electric vehicle producer’s stock valued at $2,021,000 after buying an additional 341 shares during the period. Finally, SeaCrest Wealth Management LLC increased its holdings in Tesla by 4.3% during the first quarter. SeaCrest Wealth Management LLC now owns 15,941 shares of the electric vehicle producer’s stock worth $2,802,000 after buying an additional 662 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded up $15.13 during trading hours on Wednesday, hitting $246.39. The company’s stock had a trading volume of 164,209,406 shares, compared to its average volume of 97,054,961. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $785.79 billion, a P/E ratio of 62.16, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The company’s 50 day simple moving average is $180.89 and its two-hundred day simple moving average is $190.93. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. As a group, sell-side analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday. Mizuho decreased their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Barclays decreased their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $189.47.

Tesla 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.