Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla Inc. (NASDAQ:TSLA) by 2.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 363,194 shares of the electric vehicle producer’s stock after buying an additional 7,534 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.22% of Tesla worth $131,335,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Crestwood Advisors Group LLC acquired a new stake in Tesla during the first quarter worth $101,000. SRS Capital Advisors Inc. boosted its stake in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares during the period. Winfield Associates Inc. boosted its stake in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares during the period. Advisory Services Network LLC acquired a new stake in Tesla during the first quarter worth $122,000. Finally, Acropolis Investment Management LLC acquired a new stake in Tesla during the second quarter worth $122,000. 62.92% of the stock is currently owned by institutional investors.
Shares of Tesla Inc. (NASDAQ:TSLA) traded up 0.10% during midday trading on Tuesday, reaching $338.21. 1,610,086 shares of the company were exchanged. The company’s market capitalization is $56.44 billion. The stock has a 50-day moving average price of $338.54 and a 200 day moving average price of $312.30. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $386.99.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.06) earnings per share. Equities research analysts expect that Tesla Inc. will post ($6.18) EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on TSLA shares. Goldman Sachs Group, Inc. (The) lifted their price target on Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 price target on the stock in a report on Tuesday, April 25th. Dougherty & Co reaffirmed a “buy” rating and set a $375.00 price target (down previously from $500.00) on shares of Tesla in a report on Wednesday, April 26th. Guggenheim lifted their price target on Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a report on Friday, May 5th. Finally, Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $193.00 to $464.00 in a report on Tuesday, June 13th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $310.84.
In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the transaction, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.10% of the company’s stock.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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