Today, Daiwa Securities Group Inc. Cuts Stake in Tesla Motors Inc. (TSLA)

Today, Daiwa Securities Group Inc. Cuts Stake in Tesla Motors Inc. (TSLA)
Daiwa Securities Group Inc. cut its stake in shares of Tesla Motors Inc. (NASDAQ:TSLA) by 10.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,108 shares of the electric vehicle producer’s stock after selling 3,298 shares during the period. Daiwa Securities Group Inc.’s holdings in Tesla Motors were worth $5,517,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its position in shares of Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock valued at $2,773,818,000 after buying an additional 1,137,759 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock valued at $1,038,976,000 after buying an additional 578,459 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Tesla Motors by 24.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 808,661 shares of the electric vehicle producer’s stock valued at $171,663,000 after buying an additional 157,425 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Tesla Motors by 6.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 755,475 shares of the electric vehicle producer’s stock valued at $160,372,000 after buying an additional 48,581 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Tesla Motors by 8.7% in the second quarter. American Century Companies Inc. now owns 683,673 shares of the electric vehicle producer’s stock valued at $145,130,000 after buying an additional 54,661 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

Tesla Motors Inc. (NASDAQ:TSLA) traded up 1.70% during mid-day trading on Friday, hitting $196.42. 2,358,929 shares of the company’s stock were exchanged. The stock’s market cap is $29.44 billion. Tesla Motors Inc. has a 12 month low of $141.05 and a 12 month high of $269.34. The stock’s 50 day moving average price is $194.74 and its 200-day moving average price is $210.35.

Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 26th. The electric vehicle producer reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $1.25. The company earned $2.30 billion during the quarter, compared to the consensus estimate of $2.33 billion. Tesla Motors had a negative net margin of 14.74% and a negative return on equity of 29.17%. Tesla Motors’s revenue for the quarter was up 145.3% on a year-over-year basis. During the same period last year, the firm earned ($0.58) EPS. Equities analysts expect that Tesla Motors Inc. will post ($2.04) EPS for the current fiscal year.

TSLA has been the subject of several analyst reports. Piper Jaffray Cos. restated a “hold” rating and issued a $223.00 price objective on shares of Tesla Motors in a report on Thursday, October 27th. Morgan Stanley restated an “equal weight” rating and issued a $245.00 price objective on shares of Tesla Motors in a report on Thursday, October 13th. Evercore ISI restated a “buy” rating and issued a $320.00 price objective on shares of Tesla Motors in a report on Thursday, October 27th. Pacific Crest restated a “hold” rating on shares of Tesla Motors in a report on Wednesday, September 28th. Finally, Vetr upgraded Tesla Motors from a “hold” rating to a “buy” rating and set a $212.01 price objective for the company in a report on Thursday, October 6th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $241.79.

In related news, Director Kimbal Musk sold 2,779 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $197.60, for a total value of $549,130.40. Following the completion of the transaction, the director now directly owns 154,644 shares of the company’s stock, valued at approximately $30,557,654.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 27.70% of the stock is currently owned by corporate insiders.

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