Tesla, Inc. (NASDAQ:TSLA) is Rakuten Securities Inc.’s 2nd Largest Position

Rakuten Securities Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,388 shares of the electric vehicle producer’s stock after acquiring an additional 35,470 shares during the quarter. Tesla comprises approximately 16.9% of Rakuten Securities Inc.’s portfolio, making the stock its 2nd biggest holding. Rakuten Securities Inc.’s holdings in Tesla were worth $42,964,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter worth $46,000. Parkworth Wealth Management Inc. purchased a new position in shares of Tesla in the fourth quarter valued at $47,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter valued at $35,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Tesla in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $230.58 on Wednesday. The company has a market cap of $741.66 billion, a P/E ratio of 113.03, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s 50-day simple moving average is $360.40 and its 200 day simple moving average is $319.53.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $326.43.

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.