Sumway Development LTD. Purchases 4500 Shares of Tesla Inc (TSLA)

Sumway Development LTD. lifted its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,197 shares of the electric vehicle producer’s stock after purchasing an additional 4,500 shares during the quarter. Tesla accounts for 4.9% of Sumway Development LTD.’s holdings, making the stock its 4th largest position. Sumway Development LTD.’s holdings in Tesla were worth $20,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after buying an additional 292,602 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Tesla during the second quarter worth $66,601,000. Jasper Ridge Partners L.P. raised its stake in Tesla by 7,001.5% during the second quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock worth $58,319,000 after buying an additional 159,005 shares during the last quarter. Quantitative Investment Management LLC bought a new position in Tesla during the second quarter worth $52,108,000. Finally, Janus Henderson Group PLC raised its stake in Tesla by 131.8% during the second quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock worth $87,329,000 after buying an additional 137,318 shares during the last quarter. 57.20% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on TSLA. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. Jefferies Group initiated coverage on shares of Tesla in a research note on Tuesday, September 19th. They issued an “underperform” rating and a $280.00 price target for the company. They noted that the move was a valuation call. Instinet initiated coverage on shares of Tesla in a research note on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price target for the company. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $308.16 price target for the company in a research note on Tuesday, October 3rd. Finally, Nomura assumed coverage on shares of Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 target price for the company. Thirteen research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $331.04.

Tesla Inc (NASDAQ:TSLA) traded down $2.00 during midday trading on Wednesday, hitting $339.03. 6,220,154 shares of the stock traded hands, compared to its average volume of 6,388,618. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla Inc has a one year low of $196.76 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. Tesla’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. research analysts predict that Tesla Inc will post -11.38 earnings per share for the current fiscal year.

In other news, VP Eric Branderiz sold 1,229 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $312.61, for a total value of $384,197.69. Following the completion of the sale, the vice president now owns 4,808 shares of the company’s stock, valued at approximately $1,503,028.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total transaction of $748,301.10. The disclosure for this sale can be found here. Insiders sold a total of 11,417 shares of company stock worth $3,694,761 in the last three months. Insiders own 23.10% of the company’s stock.

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Tesla 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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