Mine & Arao Wealth Creation & Management LLC. Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mine & Arao Wealth Creation & Management LLC. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 24.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,474 shares of the electric vehicle producer’s stock after buying an additional 489 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Tesla were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Tesla in the fourth quarter worth $7,844,757,000. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after buying an additional 1,402,443 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in Tesla by 60.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after acquiring an additional 1,072,366 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 8.4 %

Shares of NASDAQ:TSLA traded down $19.44 during trading on Friday, reaching $210.73. The stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The firm’s 50-day simple moving average is $224.47 and its 200 day simple moving average is $193.60. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a market capitalization of $673.21 billion, a P/E ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. As a group, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. HSBC raised their price objective on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Truist Financial restated a “hold” rating and issued a $215.00 price target on shares of Tesla in a research report on Wednesday, August 14th. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday. They set a “peer perform” rating on the stock. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $204.21.

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.