Sumitomo Life Insurance Co. Buys 1,932 Shares of Tesla, Inc. $TSLA

Key Points

• Sumitomo Life Insurance Co. increased its Tesla stake by 8.5% in the fourth quarter, buying 1,932 additional shares and bringing its total holdings to 24,771 shares worth about $11.14 million.
• Institutional ownership in Tesla remains high, with the article noting that 66.2% of the stock is owned by institutional investors and several other firms also recently added or established positions.
• Tesla continues to draw mixed sentiment: analysts are split, recent insider sales have been disclosed, and the stock currently carries a Hold consensus rating with a $404.37 target price.

Sumitomo Life Insurance Co. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 24,771 shares of the electric vehicle producer's stock after acquiring an additional 1,932 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Tesla were worth $11,140,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Networth Advisors LLC bought a new stake in shares of Tesla during the 4th quarter worth $26,000. Chapman Financial Group LLC bought a new stake in shares of Tesla during the 2nd quarter worth $26,000. Davidson Capital Management Inc. lifted its position in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 27 shares during the last quarter. Prism Advisors Inc. bought a new stake in shares of Tesla during the 4th quarter worth $30,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Tesla during the 3rd quarter worth $30,000. 66.20% of the stock is currently owned by institutional investors.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla is still benefiting from its autonomy and AI story, with reports highlighting its unsupervised robotaxi rollout and expanded Full Self-Driving approvals in Europe, including Belgium and Denmark. Tesla Robotaxi Rollout And FSD Expansion Test Rich Valuation Narrative
• Positive Sentiment: Some analysts remain constructive on Tesla’s long-term growth, pointing to underappreciated opportunities in autonomous vehicles, humanoid robotics, and energy storage, which supports the bull case despite near-term volatility. JPMorgan Echoes Why Tesla, Inc. (TSLA) is One of the Best Forever Stocks to Buy
• Neutral Sentiment: There is also ongoing merger speculation between Tesla and SpaceX, with Gwynne Shotwell saying a tie-up “might make Elon's life a little easier,” but this remains highly speculative and not an immediate business catalyst. SpaceX COO Shotwell says Tesla tie-up ‘might make Elon's life a little easier'
• Neutral Sentiment: New articles comparing Tesla with BYD and discussing how SpaceX’s debut compares with Tesla’s history are mostly narrative-driven and do not change Tesla’s fundamentals by themselves. Is it too late to buy SpaceX's stock? Here's how Tesla's did after one day and five years.
• Negative Sentiment: Multiple pieces say Tesla may be losing investor attention to SpaceX, with fears that capital is being redirected to the high-profile IPO; that dynamic has weighed on TSLA sentiment. What's Going On With Tesla Stock Friday
• Negative Sentiment: Bearish commentary also remains in the background, including a Glj Research “sell” reaffirmation and articles arguing Tesla’s battery advantage is thinning, which adds pressure on valuation concerns. Tesla: The Battery Moat Is Becoming Thinner

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares of the company's stock, valued at $18,300,145.89. This represents a 35.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company's stock, valued at approximately $8,147,700. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 57,824 shares of company stock valued at $21,657,588. Insiders own 19.90% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Tesla from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $145.00 to $475.00 in a research report on Friday, June 5th. Phillip Securities dropped their price objective on Tesla from $220.00 to $215.00 and set a "sell" rating for the company in a research report on Wednesday, May 13th. Barclays restated a "neutral" rating on shares of Tesla in a research report on Wednesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Tesla in a research report on Wednesday. Finally, BNP Paribas Exane downgraded Tesla from a "hold" rating to an "underperform" rating in a research report on Friday, June 5th. Twenty-two equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $404.37.

Tesla Price Performance

Shares of TSLA opened at $406.43 on Friday. Tesla, Inc. has a 12-month low of $288.77 and a 12-month high of $498.83. The business has a 50-day simple moving average of $398.35 and a two-hundred day simple moving average of $416.01. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.53 trillion, a PE ratio of 372.87, a PEG ratio of 15.96 and a beta of 1.80.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion during the quarter, compared to analysts' expectations of $22.96 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.

Tesla 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.

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