Mitsubishi UFJ Asset Management UK Ltd. Acquires 5,800 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 152.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,600 shares of the electric vehicle producer’s stock after buying an additional 5,800 shares during the quarter. Tesla makes up about 1.3% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 19th largest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Tesla were worth $2,512,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Clean Energy Transition LLP boosted its position in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Vanguard Group Inc. lifted its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Tesla by 12.9% in 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 buying an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Truist Financial raised their price objective on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $210.72.

Tesla Stock Performance

Shares of TSLA stock traded down $0.19 during trading hours on Friday, reaching $220.70. 49,611,867 shares of the company traded hands, compared to its average volume of 94,365,750. The firm has a 50-day moving average price of $227.67 and a 200 day moving average price of $205.12. The company has a market cap of $703.86 billion, a P/E ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Tesla Company 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.