Tesla, Inc. (NASDAQ:TSLA) Position Increased by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,222 shares of the electric vehicle producer’s stock after acquiring an additional 1,436 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Tesla were worth $4,767,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TSLA. Oppenheimer & Co. Inc. lifted its stake in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the period. Savvy Advisors Inc. lifted its position in shares of Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd increased its position in Tesla by 19.0% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Tesla by 5.6% during the 3rd 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 period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada boosted their price target on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $228.24.

Tesla Stock Down 5.8 %

NASDAQ:TSLA opened at $311.18 on Friday. The company has a market cap of $998.91 billion, a PE ratio of 85.25, a P/E/G ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The firm’s 50 day simple moving average is $248.48 and its 200 day simple moving average is $218.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company’s stock.

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.