Sumitomo Mitsui Trust Holdings Inc. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,724,096 shares of the electric vehicle producer’s stock after selling 97,918 shares during the period. Tesla accounts for about 1.6% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 6th largest holding. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Tesla worth $2,167,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Contravisory Investment Management Inc. bought a new position in shares of Tesla in the third quarter valued at $25,000. Wyrmwood Management LLC bought a new position in shares of Tesla in the fourth quarter valued at $25,000. Halpern Financial Inc. increased its holdings in shares of Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of Tesla in the third quarter valued at $27,000. Finally, MayTech Global Investments LLC bought a new position in shares of Tesla in the fourth quarter valued at $30,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA traded down $3.55 during mid-day trading on Friday, hitting $171.05. 64,722,669 shares of the company traded hands, compared to its average volume of 89,814,936. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $181.83 and a 200 day moving average of $214.48. The stock has a market capitalization of $544.76 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 4.40 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the business posted $1.07 earnings per share. Tesla’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSLA shares. HSBC dropped their price target on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a report on Wednesday, April 3rd. China Renaissance initiated coverage on shares of Tesla in a research note on Monday, February 26th. They set a “hold” rating on the stock. Redburn Atlantic initiated coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price on the stock. Barclays cut their target price on shares of Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 25th. Finally, Jefferies Financial Group cut their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $198.81.

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.