Mitsubishi UFJ Asset Management UK Ltd. Purchases 1,000 Shares of Tesla, Inc. $TSLA

Mitsubishi UFJ Asset Management UK Ltd. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 16.9% in the second quarter, HoldingsChannel.com reports. The fund owned 6,900 shares of the electric vehicle producer’s stock after buying an additional 1,000 shares during the period. Tesla comprises about 1.1% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 22nd biggest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Tesla were worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. KWB Wealth raised its position in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares in the last quarter. Kelly Financial Services LLC raised its position in shares of Tesla by 2.7% in the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock valued at $423,000 after buying an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC raised its position in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after buying an additional 36 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.3%

Shares of NASDAQ TSLA opened at $459.46 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a 50 day moving average price of $359.13 and a two-hundred day moving average price of $318.62. The stock has a market cap of $1.53 trillion, a P/E ratio of 265.58, a price-to-earnings-growth ratio of 15.46 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The company’s revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Morgan Stanley restated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Finally, Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $337.15.

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.