Meiji Yasuda Life Insurance Co Sells 3,967 Shares of Tesla, Inc. (NASDAQ:TSLA)

Meiji Yasuda Life Insurance Co lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the second quarter, Holdings Channel reports. The firm owned 99,974 shares of the electric vehicle producer’s stock after selling 3,967 shares during the period. Tesla accounts for 0.4% of Meiji Yasuda Life Insurance Co’s investment portfolio, making the stock its 22nd biggest holding. Meiji Yasuda Life Insurance Co’s holdings in Tesla were worth $19,783,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings 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 valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock valued at $501,654,000 after purchasing an additional 1,072,366 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Monday. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and upped their target price for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 target price on shares of Tesla in a research report on Friday, September 13th. Nine 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Trading Up 0.5 %

Shares of NASDAQ:TSLA opened at $227.87 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. The stock has a market cap of $726.72 billion, a PE ratio of 58.13, a P/E/G ratio of 6.08 and a beta of 2.29. The business has a 50 day moving average of $222.16 and a 200-day moving average of $194.93. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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

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.