Tesla, Inc. $TSLA Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.2% during the third quarter, Holdings Channel.com reports. The firm owned 385,969 shares of the electric vehicle producer’s stock after acquiring an additional 8,128 shares during the period. Tesla accounts for approximately 1.4% of Sumitomo Mitsui DS Asset Management Company Ltd’s holdings, making the stock its 12th largest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tesla were worth $171,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares in the last quarter. Norges Bank purchased a new position in Tesla in the second quarter valued at approximately $11,839,824,000. Legal & General Group Plc raised its holdings in Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Tesla by 20.4% in the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after buying an additional 3,422,270 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Morgan Stanley set a $425.00 price target on shares of Tesla and gave the company an “equal weight” rating in a research report on Sunday, December 7th. China Renaissance raised their price target on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Stifel Nicolaus lifted their price target on Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Wells Fargo & Company reissued an “underweight” rating and issued a $130.00 price objective (up from $120.00) on shares of Tesla in a report on Monday. Finally, Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $408.54.

View Our Latest Analysis on TSLA

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the transaction, the director directly owned 577,031 shares in the company, valued at $257,009,607.40. This represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 119,457 shares of company stock valued at $53,501,145 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Key Tesla News

Here are the key news stories impacting Tesla this week:

Tesla Price Performance

Tesla stock opened at $448.96 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The business has a 50 day simple moving average of $443.90 and a 200-day simple moving average of $396.47. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83. The stock has a market capitalization of $1.49 trillion, a PE ratio of 299.31, a price-to-earnings-growth ratio of 7.40 and a beta of 1.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. Tesla’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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