Daiwa Securities Group Inc. Sells 10,622 Shares of Tesla Inc (NASDAQ:TSLA)

Daiwa Securities Group Inc. lessened its holdings in Tesla Inc (NASDAQ:TSLA) by 23.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 institutional investors have also made changes to their positions in TSLA. Neumann Advisory Hong Kong Ltd grew its position in shares of Tesla by 15.2% during the 2nd quarter. Neumann Advisory Hong Kong Ltd now owns 38,000 shares of the electric vehicle producer’s stock worth $8,491,000 after buying an additional 5,000 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Tesla during the 2nd quarter worth $208,000. Cooper Financial Group grew its position in shares of Tesla by 3.1% during the 2nd quarter. Cooper Financial Group now owns 1,974 shares of the electric vehicle producer’s stock worth $441,000 after buying an additional 60 shares in the last quarter. KAMES CAPITAL plc grew its position in shares of Tesla by 95.3% during the 2nd quarter. KAMES CAPITAL plc now owns 139,877 shares of the electric vehicle producer’s stock worth $31,244,000 after buying an additional 68,239 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Tesla by 23.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,373 shares of the electric vehicle producer’s stock worth $754,000 after buying an additional 646 shares in the last quarter. 54.61% of the stock is currently owned by institutional investors.

TSLA has been the topic of a number of recent research reports. Barclays increased their price target on Tesla from $150.00 to $200.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. BidaskClub upgraded Tesla from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 11th. Piper Jaffray Companies decreased their price objective on Tesla from $386.00 to $372.00 in a research note on Friday, October 18th. China Renaissance Securities initiated coverage on Tesla in a research note on Thursday, September 26th. They set a “buy” rating and a $324.00 price objective for the company. Finally, Nomura restated a “neutral” rating on shares of Tesla in a research note on Thursday, October 3rd. Eighteen research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $267.32.

In other news, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $224.00, for a total value of $33,600.00. Following the completion of the transaction, the chief financial officer now directly owns 9,812 shares in the company, valued at $2,197,888. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 2,366 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $313.25, for a total value of $741,149.50. Following the completion of the transaction, the senior vice president now owns 3,288 shares of the company’s stock, valued at $1,029,966. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,816 shares of company stock valued at $3,923,060. Company insiders own 24.40% of the company’s stock.

Tesla stock traded up $1.55 during midday trading on Friday, reaching $337.09. The company’s stock had a trading volume of 567,699 shares, compared to its average volume of 10,241,594. The stock’s 50-day simple moving average is $267.02 and its 200-day simple moving average is $237.58. 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 Inc has a 52-week low of $176.99 and a 52-week high of $379.49. The stock has a market capitalization of $57.18 billion, a P/E ratio of -58.93 and a beta of 0.58.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share (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 firm had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.48 billion. During the same period last year, the business posted $2.90 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Tesla Inc will post -5.12 earnings per share for the current fiscal year.

Tesla 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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