Nomura Asset Management Co. Ltd. Sells 24,147 Shares of Tesla, Inc. (NASDAQ:TSLA)

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,061,025 shares of the electric vehicle producer’s stock after selling 24,147 shares during the period. Tesla makes up about 1.1% of Nomura Asset Management Co. Ltd.’s investment portfolio, making the stock its 11th largest holding. Nomura Asset Management Co. Ltd.’s holdings in Tesla were worth $263,643,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Kathleen S. Wright Associates Inc. lifted its position in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Finally, Advisors Preferred LLC acquired a new position in shares of Tesla during the 3rd quarter worth $60,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. HSBC reduced their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday, April 24th. China Renaissance initiated coverage on shares of Tesla in a research report on Monday, February 26th. They set a “hold” rating on the stock. The Goldman Sachs Group reduced their target price on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Finally, Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.90.

Tesla Stock Up 3.2 %

Shares of TSLA traded up $5.50 on Friday, reaching $179.24. The stock had a trading volume of 65,480,088 shares, compared to its average volume of 100,536,992. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The firm has a market capitalization of $571.63 billion, a price-to-earnings ratio of 45.53, a price-to-earnings-growth ratio of 4.42 and a beta of 2.41. The company has a 50-day simple moving average of $171.38 and a 200-day simple moving average of $201.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts predict that Tesla, Inc. will post 1.89 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were 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 directly owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,097 shares of company stock valued at $37,877,471. 25.10% of the stock is currently owned by company insiders.

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.