Asset Management One Co. Ltd. Has $58.63 Million Holding in Tesla Inc (TSLA)

Asset Management One Co. Ltd. Has $58.63 Million Holding in Tesla Inc (TSLA)

Asset Management One Co. Ltd. decreased its stake in shares of Tesla Inc (NASDAQ:TSLA) by 4.2% during the first quarter, Holdings Channel reports. The firm owned 210,684 shares of the electric vehicle producer’s stock after selling 9,323 shares during the period. Asset Management One Co. Ltd.’s holdings in Tesla were worth $58,629,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC boosted its stake in Tesla by 13.3% in the fourth quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock worth $4,711,950,000 after buying an additional 2,582,730 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Tesla by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 13,289,548 shares of the electric vehicle producer’s stock worth $2,839,843,000 after buying an additional 454,467 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth about $94,658,000. Renaissance Technologies LLC acquired a new position in shares of Tesla during the fourth quarter worth about $66,541,000. Finally, Jennison Associates LLC increased its position in shares of Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares during the last quarter. 57.29% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Inc (NASDAQ TSLA) traded down 0.15% during mid-day trading on Friday, reaching $339.85. 612,414 shares of the company’s stock traded hands. The company’s market capitalization is $55.82 billion. Tesla Inc has a 52-week low of $178.19 and a 52-week high of $344.88. The company has a 50-day moving average of $314.06 and a 200-day moving average of $257.69.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Equities research analysts expect that Tesla Inc will post ($5.80) EPS for the current year.

A number of research analysts have weighed in on TSLA shares. ValuEngine raised Tesla from a “sell” rating to a “hold” rating in a report on Friday. Pacific Crest cut Tesla to a “hold” rating in a research report on Wednesday, April 5th. Argus reiterated a “hold” rating on shares of Tesla in a research report on Thursday, May 11th. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $278.94 target price for the company in a research report on Wednesday, May 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $305.00 target price on shares of Tesla in a research report on Wednesday. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $276.68.

In other Tesla news, CEO Elon Musk purchased 95,420 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average cost of $262.00 per share, for a total transaction of $25,000,040.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 2,500 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $286.28, for a total transaction of $715,700.00. Following the completion of the transaction, the director now owns 170,546 shares in the company, valued at $48,823,908.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,791 shares of company stock worth $74,745,344. 27.70% of the stock is currently owned by company insiders.

Tesla Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:TSLA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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