Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 200.7% during the first quarter, Holdings Channel reports. The institutional investor owned 481,122 shares of the electric vehicle producer’s stock after buying an additional 321,112 shares during the period. Tesla accounts for 2.2% of Sumitomo Mitsui Asset Management Company LTD’s portfolio, making the stock its 3rd largest position. Sumitomo Mitsui Asset Management Company LTD’s holdings in Tesla were worth $134,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at approximately $470,949,000. Jennison Associates LLC grew its stake in shares of Tesla by 10.5% during the fourth quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock valued at $1,771,281,000 after buying an additional 505,076 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. bought a new position in shares of Tesla during the fourth quarter valued at approximately $79,472,000. Toronto Dominion Bank grew its stake in shares of Tesla by 782.3% during the first quarter. Toronto Dominion Bank now owns 178,392 shares of the electric vehicle producer’s stock valued at $49,923,000 after buying an additional 158,172 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $38,582,000. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Antonio J. Gracias sold 16,780 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $306.01, for a total value of $5,134,847.80. Following the completion of the sale, the director now directly owns 19,572 shares of the company’s stock, valued at $5,989,227.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Elon Musk purchased 102,880 shares of Tesla stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $243.00 per share, with a total value of $24,999,840.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 95,340 shares of company stock valued at $26,907,754. Insiders own 22.80% of the company’s stock.

TSLA has been the topic of a number of analyst reports. JMP Securities set a $408.00 target price on Tesla and gave the company a “buy” rating in a research note on Tuesday, January 22nd. ValuEngine cut Tesla from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 19th. Jefferies Financial Group set a $450.00 target price on Tesla and gave the company a “buy” rating in a research note on Thursday, January 31st. BidaskClub raised Tesla from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, Canaccord Genuity raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $330.00 to $450.00 in a research note on Monday, February 11th. Sixteen research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $303.47.

Shares of NASDAQ:TSLA traded down $0.78 during trading on Wednesday, hitting $231.53. The company’s stock had a trading volume of 4,240,034 shares, compared to its average volume of 11,337,129. The company has a market cap of $39.44 billion, a price-to-earnings ratio of -40.48 and a beta of 0.27. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.79. Tesla Inc has a fifty-two week low of $224.50 and a fifty-two week high of $387.46.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.51) by ($1.59). The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $5.18 billion. Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The business’s revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the firm earned ($3.35) EPS. On average, analysts expect that Tesla Inc will post -4.64 EPS for the current year.

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Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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