Sumitomo Mitsui Asset Management Company LTD Has Lifted Its Position in Tesla INC (TSLA) as Valuation Declined

September 8, 2018 - By Palma Niemeyer

Tesla, Inc. (NASDAQ:TSLA) LogoInvestors sentiment decreased to 0.92 in Q1 2018. Its down 0.13, from 1.05 in 2017Q4. It dropped, as 110 investors sold TSLA shares while 162 reduced holdings. 71 funds opened positions while 178 raised stakes. 100.60 million shares or 4.72% more from 96.06 million shares in 2017Q4 were reported. Renaissance Technologies Lc, a New York-based fund reported 367,792 shares. Capstone Investment Advsr Ltd owns 5,311 shares or 0.03% of their US portfolio. Oakworth Cap reported 48 shares. Veritable Limited Partnership owns 2,210 shares. Harbourvest Prtn Limited has invested 0.91% of its portfolio in Tesla, Inc. (NASDAQ:TSLA). Ballentine Ptnrs Limited Com accumulated 0.03% or 1,746 shares. Polar Asset Mgmt Ptnrs reported 0.17% in Tesla, Inc. (NASDAQ:TSLA). Nuveen Asset Mngmt Lc stated it has 0.03% of its portfolio in Tesla, Inc. (NASDAQ:TSLA). Fil Limited invested in 0.02% or 20,904 shares. Alpha Windward reported 94 shares stake. Jnba Advsrs invested 0% in Tesla, Inc. (NASDAQ:TSLA). Jane Street Gp Ltd Limited Liability Company stated it has 158,344 shares. 3,740 are held by Filament Limited Liability. Ameritas Investment Prtn reported 3,034 shares or 0.04% of all its holdings. The California-based Gemmer Asset Mngmt Limited has invested 0.06% in Tesla, Inc. (NASDAQ:TSLA).

Since March 16, 2018, it had 2 insider buys, and 4 selling transactions for $32.14 million activity. $321,408 worth of Tesla, Inc. (NASDAQ:TSLA) shares were sold by FIELD JOHN DOUGLAS. Musk Kimbal had sold 1,875 shares worth $671,736 on Monday, July 2.

Sumitomo Mitsui Asset Management Company Ltd increased its stake in Tesla Inc (TSLA) by 9.51% based on its latest 2018Q1 regulatory filing with the SEC. Sumitomo Mitsui Asset Management Company Ltd bought 60,433 shares as the company’s stock declined 21.98% with the market. The institutional investor held 696,125 shares of the capital goods company at the end of 2018Q1, valued at $185.26 million, up from 635,692 at the end of the previous reported quarter. Sumitomo Mitsui Asset Management Company Ltd who had been investing in Tesla Inc for a number of months, seems to be bullish on the $44.91 billion market cap company. The stock decreased 6.30% or $17.71 during the last trading session, reaching $263.24. About 22.24 million shares traded or 115.79% up from the average. Tesla, Inc. (NASDAQ:TSLA) has declined 11.99% since September 8, 2017 and is downtrending. It has underperformed by 24.56% the S&P500.

Sumitomo Mitsui Asset Management Company Ltd, which manages about $6.76 billion US Long portfolio, decreased its stake in Baidu Inc (NASDAQ:BIDU) by 80,350 shares to 439,800 shares, valued at $98.16M in 2018Q1, according to the filing. It also reduced its holding in Athenahealth Inc (NASDAQ:ATHN) by 163,815 shares in the quarter, leaving it with 290,345 shares, and cut its stake in Analog Devices Inc (NASDAQ:ADI).

More notable recent Tesla, Inc. (NASDAQ:TSLA) news were published by: Seekingalpha.com which released: “Tesla, Software And Disruption” on September 02, 2018, also Seekingalpha.com with their article: “Tesla misses Model 3 weekly production target – Electrek” published on September 03, 2018, Seekingalpha.com published: “Tesla slides after chief accounting officer walks away” on September 07, 2018. More interesting news about Tesla, Inc. (NASDAQ:TSLA) were released by: Seekingalpha.com and their article: “Elon Musk goes there again” published on September 05, 2018 as well as Nasdaq.com‘s news article titled: “The 5 Top Trades for Wednesday” with publication date: September 05, 2018.

Tesla, Inc. (NASDAQ:TSLA) Ratings Coverage

Among 22 analysts covering Tesla Motors (NASDAQ:TSLA), 7 have Buy rating, 7 Sell and 8 Hold. Therefore 32% are positive. Tesla Motors had 48 analyst reports since March 9, 2018 according to SRatingsIntel. The stock of Tesla, Inc. (NASDAQ:TSLA) has “Hold” rating given on Wednesday, August 8 by Jefferies. The firm has “Sell” rating given on Wednesday, April 4 by J.P. Morgan. Robert W. Baird maintained the shares of TSLA in report on Wednesday, May 30 with “Buy” rating. The rating was maintained by Robert W. Baird with “Buy” on Wednesday, June 6. The firm has “Buy” rating by Robert W. Baird given on Monday, April 2. The company was maintained on Tuesday, September 4 by Goldman Sachs. The firm has “Sell” rating by Jefferies given on Monday, March 19. The stock of Tesla, Inc. (NASDAQ:TSLA) earned “Underperformer” rating by Bank of America on Thursday, August 2. The rating was maintained by Goldman Sachs on Monday, March 19 with “Sell”. UBS maintained Tesla, Inc. (NASDAQ:TSLA) on Thursday, May 31 with “Sell” rating.

Tesla, Inc. (NASDAQ:TSLA) Institutional Positions Chart

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