Tesla, Inc. (NASDAQ:TSLA) Stock Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,528,852 shares of the electric vehicle producer’s stock after selling 454,956 shares during the quarter. Tesla accounts for approximately 1.5% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 7th largest position. Sumitomo Mitsui Trust Group Inc.’s holdings in Tesla were worth $2,231,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at $29,000. Bank & Trust Co bought a new position in Tesla during the 2nd quarter worth about $25,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. bought a new position in shares of Tesla during the second quarter valued at approximately $26,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 in the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 9.0 %

Shares of TSLA opened at $350.00 on Tuesday. The stock has a 50 day moving average price of $243.90 and a 200 day moving average price of $217.03. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 95.89, a PEG ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Royal Bank of Canada lifted their target price on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group raised their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $225.06.

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.