Sumitomo Mitsui DS Asset Management Company Ltd Purchases 22,831 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 347,585 shares of the electric vehicle producer’s stock after purchasing an additional 22,831 shares during the period. Tesla comprises 1.4% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 13th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tesla were worth $140,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Retirement Planning Group LLC boosted its stake in Tesla by 16.1% in the 3rd quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock worth $364,000 after purchasing an additional 193 shares during the period. Carnegie Investment Counsel lifted its holdings in shares of Tesla by 29.6% in the third quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock worth $1,735,000 after buying an additional 1,515 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in shares of Tesla by 37.6% during the third quarter. CHICAGO TRUST Co NA now owns 2,197 shares of the electric vehicle producer’s stock worth $575,000 after acquiring an additional 600 shares during the last quarter. Douglas Lane & Associates LLC purchased a new position in Tesla during the third quarter valued at $209,000. Finally, VitalStone Financial LLC increased its holdings in Tesla by 52.3% in the 3rd quarter. VitalStone Financial LLC now owns 3,095 shares of the electric vehicle producer’s stock valued at $810,000 after acquiring an additional 1,063 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 3.0 %

Shares of NASDAQ TSLA opened at $350.73 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $408.27 and a two-hundred day simple moving average of $304.55. The firm has a market cap of $1.13 trillion, a PE ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 635,776 shares of company stock worth $231,335,112. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLA. Stifel Nicolaus cut their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Guggenheim reiterated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $321.71.

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.