Sumitomo Life Insurance Co. increased its position in Tesla Inc. (NASDAQ:TSLA) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,985 shares of the electric vehicle producer’s stock after buying an additional 126 shares during the period. Sumitomo Life Insurance Co.’s holdings in Tesla were worth $1,079,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Private Capital Advisors Inc. bought a new stake in shares of Tesla during the first quarter worth approximately $520,000. National Pension Service boosted its stake in shares of Tesla by 32.9% in the first quarter. National Pension Service now owns 101,985 shares of the electric vehicle producer’s stock worth $28,344,000 after buying an additional 25,261 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of Tesla during the first quarter worth approximately $502,000. Gulf International Bank UK Ltd boosted its stake in shares of Tesla by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 39,718 shares of the electric vehicle producer’s stock worth $11,053,000 after buying an additional 560 shares during the last quarter. Finally, Vista Capital Partners Inc. bought a new stake in shares of Tesla during the first quarter worth approximately $202,000. Institutional investors and hedge funds own 63.71% of the company’s stock.

Shares of Tesla Inc. (TSLA) traded up 0.69% on Friday, hitting $357.87. The stock had a trading volume of 4,365,783 shares. The stock has a 50 day moving average of $341.13 and a 200 day moving average of $307.07. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $386.99. The firm’s market cap is $59.72 billion.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the firm earned ($1.06) earnings per share. The firm’s revenue was up 119.6% compared to the same quarter last year. Equities analysts predict that Tesla Inc. will post ($6.29) earnings per share for the current fiscal year.

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A number of analysts have commented on the company. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price target for the company in a research report on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Tuesday, June 20th. BidaskClub cut Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $200.00 target price (up previously from $180.00) on shares of Tesla in a research report on Wednesday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $345.00 target price (up previously from $314.00) on shares of Tesla in a research report on Wednesday. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $309.70.

In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.10% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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