Daiwa Securities Group Inc. Reduces Stock Holdings in Tesla Inc (NASDAQ:TSLA)

Daiwa Securities Group Inc. decreased its holdings in Tesla Inc (NASDAQ:TSLA) by 23.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,862 shares of the electric vehicle producer’s stock after selling 10,622 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tesla were worth $8,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Bartlett & Co. LLC lifted its stake in Tesla by 521.8% in the third quarter. Bartlett & Co. LLC now owns 342 shares of the electric vehicle producer’s stock worth $82,000 after acquiring an additional 287 shares during the period. Huntington National Bank lifted its stake in Tesla by 21.0% in the third quarter. Huntington National Bank now owns 605 shares of the electric vehicle producer’s stock worth $146,000 after acquiring an additional 105 shares during the period. United Asset Strategies Inc. purchased a new stake in Tesla in the third quarter worth $205,000. IFM Investors Pty Ltd lifted its stake in Tesla by 50.7% in the third quarter. IFM Investors Pty Ltd now owns 14,232 shares of the electric vehicle producer’s stock worth $3,428,000 after acquiring an additional 4,787 shares during the period. Finally, Wetherby Asset Management Inc. lifted its stake in Tesla by 17.1% in the third quarter. Wetherby Asset Management Inc. now owns 1,843 shares of the electric vehicle producer’s stock worth $444,000 after acquiring an additional 269 shares during the period. 54.61% of the stock is owned by institutional investors.

Several equities analysts have commented on the company. Sanford C. Bernstein set a $325.00 price objective on Tesla and gave the company a “hold” rating in a research report on Wednesday, August 21st. Morgan Stanley reissued an “equal weight” rating on shares of Tesla in a research report on Friday, November 1st. Oppenheimer raised their price objective on Tesla from $356.00 to $385.00 in a research report on Thursday, October 24th. Nord/LB set a $195.00 price objective on Tesla and gave the company a “sell” rating in a research report on Monday, October 7th. Finally, Canaccord Genuity raised their price objective on Tesla from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Eighteen analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $267.32.

In related news, insider Jerome M. Guillen sold 8,000 shares of Tesla stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $305.00, for a total value of $2,440,000.00. Following the completion of the sale, the insider now directly owns 16,973 shares in the company, valued at approximately $5,176,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson purchased 360 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $221.71 per share, with a total value of $79,815.60. Following the completion of the purchase, the director now owns 360 shares in the company, valued at $79,815.60. The disclosure for this purchase can be found here. Insiders sold a total of 12,816 shares of company stock valued at $3,923,060 over the last quarter. 24.40% of the stock is owned by corporate insiders.

NASDAQ TSLA traded up $1.55 during trading hours on Friday, hitting $337.09. The company’s stock had a trading volume of 567,699 shares, compared to its average volume of 10,241,594. Tesla Inc has a 12 month low of $176.99 and a 12 month high of $379.49. The company’s 50 day simple moving average is $267.02 and its two-hundred day simple moving average is $237.58. The company has a market cap of $57.18 billion, a P/E ratio of -58.93 and a beta of 0.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 0.73.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $1.86 EPS for the quarter, topping the consensus estimate of ($0.42) by $2.28. Tesla had a negative return on equity of 13.42% and a negative net margin of 3.39%. The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same period last year, the company earned $2.90 EPS. Tesla’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, research analysts predict that Tesla Inc will post -5.12 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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