Nomura Asset Management Co. Ltd. Has $441.63 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Nomura Asset Management Co. Ltd. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,093,572 shares of the electric vehicle producer’s stock after buying an additional 50,518 shares during the period. Tesla accounts for approximately 1.3% of Nomura Asset Management Co. Ltd.’s holdings, making the stock its 9th biggest holding. Nomura Asset Management Co. Ltd.’s holdings in Tesla were worth $441,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in Tesla in the fourth quarter valued at about $38,000. Cyrus J. Lawrence LLC acquired a new stake in Tesla in the fourth quarter worth about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Stifel Nicolaus reduced their price target on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Canaccord Genuity Group restated a “buy” rating and set a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Finally, HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $319.12.

Tesla Stock Up 0.4 %

NASDAQ:TSLA opened at $273.13 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $878.53 billion, a PE ratio of 133.89, a P/E/G ratio of 5.86 and a beta of 2.50. The firm’s 50 day simple moving average is $324.59 and its 200 day simple moving average is $321.35.

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

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by company insiders.

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.