Norinchukin Bank The Sells 6,230 Shares of Tesla, Inc. (NASDAQ:TSLA)

Norinchukin Bank The lessened its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 74,835 shares of the electric vehicle producer’s stock after selling 6,230 shares during the period. Tesla accounts for approximately 1.0% of Norinchukin Bank The’s investment portfolio, making the stock its 14th biggest holding. Norinchukin Bank The’s holdings in Tesla were worth $79,084,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TSLA. Capital World Investors raised its position in Tesla by 0.4% in the 3rd quarter. Capital World Investors now owns 37,427,314 shares of the electric vehicle producer’s stock worth $29,024,320,000 after buying an additional 144,749 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tesla by 7.0% in the third quarter. Geode Capital Management LLC now owns 13,169,939 shares of the electric vehicle producer’s stock worth $10,183,430,000 after purchasing an additional 858,839 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Tesla by 5.9% in the third quarter. UBS Asset Management Americas Inc. now owns 3,685,063 shares of the electric vehicle producer’s stock worth $2,857,693,000 after acquiring an additional 203,941 shares during the last quarter. California Public Employees Retirement System raised its position in Tesla by 1.7% in the third quarter. California Public Employees Retirement System now owns 1,774,686 shares of the electric vehicle producer’s stock valued at $1,376,233,000 after purchasing an additional 29,077 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Tesla by 2.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,528,244 shares of the electric vehicle producer’s stock worth $1,615,018,000 after acquiring an additional 29,335 shares in the last quarter. 40.64% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TSLA traded down $6.00 during trading hours on Thursday, reaching $728.00. 46,420,076 shares of the company’s stock were exchanged, compared to its average volume of 26,955,021. Tesla, Inc. has a 1-year low of $546.98 and a 1-year high of $1,243.49. The firm has a market capitalization of $754.22 billion, a price-to-earnings ratio of 97.76, a P/E/G ratio of 2.82 and a beta of 2.11. The company has a 50-day moving average of $942.20 and a 200 day moving average of $985.47. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Rating) last announced its earnings results on Wednesday, April 20th. The electric vehicle producer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.26 by $0.96. The firm had revenue of $18.76 billion for the quarter, compared to the consensus estimate of $17.84 billion. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The business’s quarterly revenue was up 80.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Research analysts forecast that Tesla, Inc. will post 10.21 EPS for the current fiscal year.

In related news, SVP Andrew D. Baglino sold 3,500 shares of Tesla stock in a transaction on Monday, February 28th. The shares were sold at an average price of $815.72, for a total value of $2,855,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Elon Musk sold 345,601 shares of the stock in a transaction on Wednesday, April 27th. The stock was sold at an average price of $898.00, for a total transaction of $310,349,698.00. Following the sale, the chief executive officer now directly owns 168,193,251 shares of the company’s stock, valued at approximately $151,037,539,398. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 418,251 shares of company stock worth $374,394,436. Insiders own 25.00% of the company’s stock.

Several analysts have recently weighed in on TSLA shares. Oppenheimer upped their price objective on Tesla from $1,103.00 to $1,291.00 and gave the company an “outperform” rating in a report on Thursday, April 21st. Canaccord Genuity Group raised their price objective on Tesla from $1,040.00 to $1,200.00 in a report on Friday, January 28th. UBS Group boosted their price objective on Tesla from $1,000.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 4th. Royal Bank of Canada increased their target price on Tesla from $1,035.00 to $1,175.00 and gave the company a “sector perform” rating in a report on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $956.97.

Tesla Profile (Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAGet Rating).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.