Sumitomo Life Insurance Co. Acquires New Position in Tesla, Inc. $TSLA

Key Points

• Sumitomo Life Insurance acquired 24,030 Tesla shares worth approximately $10.1 million in the second quarter. Institutional investors and hedge funds collectively own 66.2% of Tesla.
• Tesla’s shares were down 5.9%, with the stock trading near $354 and carrying a very high P/E ratio of 327.85. The company also missed quarterly earnings expectations, reporting $0.33 in EPS versus the $0.50 consensus estimate.
• Tesla’s Cybercab rollout showed progress through limited Austin rides, but an NHTSA audit and analyst concerns about commercialization, manufacturing scale and valuation created pressure. Analysts’ consensus rating remains Hold, with an average price target of $401.74.

Sumitomo Life Insurance Co. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,030 shares of the electric vehicle producer's stock, valued at approximately $10,107,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth approximately $17,128,100,000. Corient Private Wealth LLC raised its stake in shares of Tesla by 3,205.5% during the 4th quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer's stock worth $9,650,811,000 after buying an additional 20,810,386 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Tesla during the 2nd quarter worth $6,083,630,000. Deutsche Bank AG acquired a new stake in Tesla in the 2nd quarter valued at about $4,039,090,000. Finally, Bank of America Corp DE increased its holdings in Tesla by 56.0% during the 4th quarter. Bank of America Corp DE now owns 20,755,605 shares of the electric vehicle producer's stock valued at $9,334,211,000 after acquiring an additional 7,450,766 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Key Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla began offering limited Cybercab rides in Austin, marking tangible progress toward its long-promised autonomous-vehicle strategy. The company is also soliciting interest from businesses that may purchase Cybercab fleets or provide supporting infrastructure, potentially expanding the model beyond Tesla-operated vehicles. Tesla Cybercab Hits Austin Streets
• Positive Sentiment: Tesla said the Cybercab motor uses no rare-earth metals, which could reduce supply-chain exposure. Separately, French authorities began testing Tesla’s Full Self-Driving technology, a possible step toward European regulatory progress. Cybercab Rare-Earth-Free Motor
• Neutral Sentiment: Technical analysts identified potential support around $330–$331 after the stock failed to hold resistance near $380. A successful rebound could restore momentum, but a break below roughly $347 could increase downside pressure. Tesla Forecast and Technical Levels
• Negative Sentiment: The National Highway Traffic Safety Administration opened an audit involving approximately 1,000 Cybercabs. Regulators are reviewing Tesla’s self-certification and whether a vehicle without a steering wheel, pedals or conventional mirrors complies with federal safety standards, creating potential approval and rollout delays. NHTSA Cybercab Probe
• Negative Sentiment: Analysts and financial media characterized the event as underwhelming, citing limited updates and unanswered questions about manufacturing scale, commercialization and economics. Bearish commentary—including a reiterated sell rating and an extreme downside forecast—added to the pressure, especially given Tesla’s very high earnings multiple and recent EPS miss. Tesla Stock Drops After Cybercab Update

Tesla Stock Down 5.9%

TSLA stock opened at $354.08 on Friday. The company has a 50 day moving average price of $358.22 and a two-hundred day moving average price of $383.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 327.85, a PEG ratio of 19.00 and a beta of 1.84. Tesla, Inc. has a one year low of $297.38 and a one year high of $498.83.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to analysts' expectations of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The company's revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer directly owned 22,039 shares of the company's stock, valued at approximately $8,864,085.80. This trade represents a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 19.90% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on TSLA shares. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Thursday, July 23rd. Truist Financial set a $370.00 price objective on Tesla and gave the stock a "hold" rating in a research report on Thursday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and set a $130.00 target price (up from $125.00) on shares of Tesla in a report on Tuesday, July 14th. UBS Group set a $460.00 price target on Tesla in a report on Thursday, July 23rd. Finally, TD Cowen restated a "buy" rating on shares of Tesla in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $401.74.

Tesla Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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