Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,333,838 shares of the electric vehicle producer's stock after purchasing an additional 456,356 shares during the quarter. Tesla accounts for about 1.5% of Sumitomo Mitsui Trust Group Inc.'s investment portfolio, making the stock its 7th largest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Tesla worth $2,159,797,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rinkey Investments boosted its holdings in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares during the period. Ndwm LLC boosted its holdings in shares of Tesla by 0.8% during the fourth quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer's stock valued at $1,439,000 after acquiring an additional 30 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of Tesla by 1.3% during the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after acquiring an additional 30 shares during the period. Pitti Group Wealth Management LLC boosted its holdings in shares of Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after acquiring an additional 31 shares during the period. Finally, True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TSLA shares. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Canaccord Genuity Group dropped their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $298.37.

Tesla Trading Down 0.7%

Shares of NASDAQ TSLA opened at $323.63 on Friday. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.10 and a beta of 2.47. The business has a 50 day simple moving average of $314.93 and a 200 day simple moving average of $329.82. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company'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 value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate insiders.

About Tesla

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.

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