Rakuten Securities Inc. Acquires New Stake in Tesla, Inc. (NASDAQ:TSLA)

Rakuten Securities Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 49,940 shares of the electric vehicle producer’s stock, valued at approximately $12,409,000. Tesla makes up about 9.8% of Rakuten Securities Inc.’s portfolio, making the stock its 2nd biggest holding.

Several other institutional investors have also added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC lifted its position in Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after buying an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tesla by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after buying an additional 164,789 shares in the last quarter. MAS Advisors LLC lifted its position in Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after buying an additional 81 shares in the last quarter. Ergoteles LLC lifted its position in Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after buying an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after buying an additional 4,593 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of Tesla stock traded down $0.92 on Wednesday, reaching $156.19. 50,880,002 shares of the stock were exchanged, compared to its average volume of 101,469,719. The firm has a market cap of $497.43 billion, a PE ratio of 35.90, a P/E/G ratio of 4.25 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm’s 50 day moving average is $180.88 and its 200-day moving average is $213.04. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho restated a “neutral” rating and set a $195.00 price objective (down from $270.00) on shares of Tesla in a research note on Monday, March 25th. Canaccord Genuity Group lowered their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. The Goldman Sachs Group lowered their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Truist Financial lowered their price objective on shares of Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. Finally, China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating on the stock. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $198.81.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 in the last quarter. Insiders own 20.90% 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.