Sumitomo Mitsui DS Asset Management Company Ltd Purchases 14,653 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 362,238 shares of the electric vehicle producer's stock after purchasing an additional 14,653 shares during the period. Tesla makes up about 1.0% of Sumitomo Mitsui DS Asset Management Company Ltd's holdings, making the stock its 21st biggest position. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Tesla were worth $93,878,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lansing Street Advisors raised its position in Tesla by 2.2% during the first quarter. Lansing Street Advisors now owns 1,959 shares of the electric vehicle producer's stock valued at $508,000 after buying an additional 42 shares during the period. Von Berge Wealth Management Group LLC lifted its position in shares of Tesla by 12.5% in the first quarter. Von Berge Wealth Management Group LLC now owns 6,745 shares of the electric vehicle producer's stock worth $1,750,000 after purchasing an additional 750 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of Tesla by 8.6% during the first quarter. Clear Creek Financial Management LLC now owns 13,440 shares of the electric vehicle producer's stock worth $3,483,000 after purchasing an additional 1,069 shares during the period. Hapanowicz & Associates Financial Services Inc increased its stake in Tesla by 25.3% in the 1st quarter. Hapanowicz & Associates Financial Services Inc now owns 1,532 shares of the electric vehicle producer's stock valued at $397,000 after buying an additional 309 shares during the period. Finally, BLB&B Advisors LLC lifted its position in Tesla by 20.9% in the 1st quarter. BLB&B Advisors LLC now owns 5,858 shares of the electric vehicle producer's stock worth $1,518,000 after buying an additional 1,012 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TSLA shares. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $298.37.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 5.0%

Shares of Tesla stock traded up $14.94 on Wednesday, hitting $315.65. 119,085,851 shares of the company's stock traded hands, compared to its average volume of 101,982,508. The firm's 50-day moving average price is $317.99 and its two-hundred day moving average price is $328.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a market capitalization of $1.02 trillion, a PE ratio of 173.43, a price-to-earnings-growth ratio of 12.06 and a beta of 2.40. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business posted $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.