Tesla, Inc. (NASDAQ:TSLA) is Sumitomo Mitsui Trust Group Inc.'s 7th Largest Position

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,528,852 shares of the electric vehicle producer's stock after selling 454,956 shares during the period. Tesla comprises about 1.5% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 7th largest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Tesla worth $2,231,404,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. ARK Investment Management LLC boosted its position in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the period. Finally, National Pension Service boosted its position in shares of Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock valued at $1,355,939,000 after acquiring an additional 688,717 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 6.4 %

TSLA traded down $22.49 during midday trading on Tuesday, hitting $327.51. 117,602,180 shares of the company were exchanged, compared to its average volume of 95,522,633. The firm's 50 day moving average price is $243.90 and its 200-day moving average price is $217.03. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 94.16, a P/E/G ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,797 shares of company stock worth $19,211,821. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Jefferies Financial Group increased their price objective on Tesla from $165.00 to $195.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, October 24th. StockNews.com upgraded Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a "neutral" rating for the company in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $225.06.

Tesla 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.