Mitsubishi UFJ Trust & Banking Corp Has $642.85 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,591,832 shares of the electric vehicle producer’s stock after selling 14,484 shares during the period. Tesla accounts for about 1.5% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 7th biggest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in Tesla were worth $642,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Principal Financial Group Inc. increased its holdings in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. United Bank bought a new position in shares of Tesla during the 3rd quarter valued at approximately $287,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Tesla by 61.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock worth $30,151,000 after purchasing an additional 43,950 shares during the period. Eagle Asset Management Inc. lifted its stake in Tesla by 21.6% in the third quarter. Eagle Asset Management Inc. now owns 31,232 shares of the electric vehicle producer’s stock valued at $8,171,000 after purchasing an additional 5,545 shares during the last quarter. Finally, Algert Global LLC bought a new position in Tesla during the third quarter valued at $3,194,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. Guggenheim dropped their price target on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Royal Bank of Canada reduced their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a report on Wednesday, March 19th. Finally, Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $318.93.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $278.39 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $895.45 billion, a PE ratio of 136.47, a PEG ratio of 5.86 and a beta of 2.50. The company’s fifty day moving average is $332.69 and its 200 day moving average is $321.49. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

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.