Sumitomo Mitsui DS Asset Management Company Ltd Buys 15,603 Shares of Tesla, Inc. $TSLA

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,841 shares of the electric vehicle producer’s stock after purchasing an additional 15,603 shares during the quarter. Tesla comprises about 1.1% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 13th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tesla were worth $120,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Brighton Jones LLC boosted its position in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter worth $346,000. Highview Capital Management LLC DE bought a new stake in shares of Tesla in the 4th quarter worth about $2,367,000. Finally, Bison Wealth LLC raised its position in shares of Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $425.86 on Thursday. The stock’s 50-day moving average is $336.29 and its 200 day moving average is $306.18. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.37 trillion, a P/E ratio of 246.16, a PEG ratio of 14.71 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Morgan Stanley reissued an “overweight” rating and set a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Dbs Bank lifted their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday. Finally, Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $307.46.

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.