Nippon Life Global Investors Americas Inc. Purchases 15,450 Shares of Tesla, Inc. $TSLA

Nippon Life Global Investors Americas Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 22.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,220 shares of the electric vehicle producer’s stock after acquiring an additional 15,450 shares during the quarter. Tesla accounts for approximately 1.2% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 28th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Tesla were worth $29,527,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. State Street Corp lifted its stake in Tesla by 2.4% during the 2nd quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer’s stock valued at $49,402,312,000 after acquiring an additional 2,761,298 shares during the period. Legal & General Group Plc bought a new position in Tesla during the second quarter valued at approximately $8,535,612,000. Amundi boosted its holdings in Tesla by 14.0% in the first quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock worth $8,243,513,000 after purchasing an additional 2,727,141 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Tesla in the second quarter worth approximately $6,083,630,000. Finally, Bamco Inc. NY grew its position in Tesla by 5.0% in the 2nd quarter. Bamco Inc. NY now owns 12,524,752 shares of the electric vehicle producer’s stock worth $5,267,911,000 after purchasing an additional 591,243 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the sale, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TSLA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research note on Monday, October 19th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 22nd. Yorkville Ives assumed coverage on Tesla in a report on Wednesday, October 7th. They issued an “outperform” rating and a $500.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on Tesla in a research report on Monday, October 26th. They issued a “buy” rating on the stock. Finally, DZ Bank raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $414.51.

Tesla Price Performance

Shares of TSLA stock opened at $399.81 on Monday. The company’s fifty day moving average price is $369.61 and its 200-day moving average price is $385.81. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83. The company has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 439.36, a PEG ratio of 24.77 and a beta of 1.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.74 and a quick ratio of 1.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The firm had revenue of $28.05 billion during the quarter, compared to analysts’ expectations of $28.06 billion. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 0.67 EPS for the current fiscal year.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: European sales showed meaningful improvement in October: Tesla registrations rose 248% year over year in Sweden, 131% in Norway and 34% in Denmark. The gains suggest Tesla may be beginning to recover from its prolonged global sales slump. Tesla registrations surge across Northern Europe in October
• Positive Sentiment: Tesla’s Cybercab and robotaxi expansion remains a major part of the bullish investment case. New or expanded operations in Texas, Nevada and other U.S. markets could create higher-margin, recurring software and mobility revenue if Tesla reaches its targeted operating cost of roughly $0.30 per paid mile. Cybercab Expansion Might Change the Case for Investing in Tesla Stock
• Neutral Sentiment: Tesla may be reconsidering a larger role for Taiwan Semiconductor Manufacturing Co. in its Texas Terafab chip project. TSMC’s manufacturing expertise could improve execution, although the report also suggests Tesla may have less direct control over a strategically important initiative. Tesla’s Terafab May Reportedly Lean on TSMC After All
• Neutral Sentiment: Reports that Tesla and SpaceX are exploring a combination continue to generate speculative upside scenarios, but the transaction would require agreement on valuation, exchange terms and shareholder approval. The potential deal is not yet a completed corporate action. Barclays Says a SpaceX Merger Is Now a Key Part of the Tesla Bull Case
• Negative Sentiment: Investor Gary Black says Tesla’s U.S. EV share has fallen from approximately 80% to 52% as smaller and lesser-known rivals gain ground. His call for stronger marketing highlights competitive pressure and could weigh on confidence in Tesla’s ability to justify its very high valuation. Gary Black Says Tesla Is Losing EV Share
• Negative Sentiment: BYD, Xiaomi and XPeng reported strong October sales in China, reinforcing the threat from increasingly capable local competitors. That pressure is especially important because Tesla trades at a substantial earnings premium despite modest profitability and recently declining revenue. Tesla China EV Rivals Report Strong Sales

Tesla Company Profile

Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.

Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.