Sumway Development Ltd. Lowers stake in Tesla Motors Inc (TSLA)

Tesla Motors Inc (TSLA) : Sumway Development Ltd. reduced its stake in Tesla Motors Inc by 9.85% during the most recent quarter end. The investment management company now holds a total of 287,325 shares of Tesla Motors Inc which is valued at $72,908,719 after selling 31,395 shares in Tesla Motors Inc , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Tesla Motors Inc makes up approximately 34.72% of Sumway Development Ltd.’s portfolio.

Tesla Motors Inc opened for trading at $248.89 and hit $254 on the upside on Friday, eventually ending the session at $253.75, with a gain of 2.20% or 5.46 points. The heightened volatility saw the trading volume jump to 37,86,327 shares. Company has a market cap of $33,509 M.

Other Hedge Funds, Including , Trillium Asset Management boosted its stake in TSLA in the latest quarter, The investment management firm added 5,489 additional shares and now holds a total of 11,407 shares of Tesla Motors Inc which is valued at $2,894,526. Tesla Motors Inc makes up approx 0.19% of Trillium Asset Management’s portfolio. New England Investment Retirement Group sold out all of its stake in TSLA during the most recent quarter. The investment firm sold 10,630 shares of TSLA which is valued $2,705,441. Contravisory Investment Management sold out all of its stake in TSLA during the most recent quarter. The investment firm sold 31,376 shares of TSLA which is valued $7,985,506.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in TSLA in the latest quarter, The investment management firm added 2,908 additional shares and now holds a total of 30,364 shares of Tesla Motors Inc which is valued at $7,727,942. Tesla Motors Inc makes up approx 0.18% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Eqis Capital Management boosted its stake in TSLA in the latest quarter, The investment management firm added 130 additional shares and now holds a total of 2,038 shares of Tesla Motors Inc which is valued at $509,337. Tesla Motors Inc makes up approx 0.04% of Eqis Capital Management’s portfolio.

On the company’s financial health, Tesla Motors Inc reported $-0.87 EPS for the quarter, missing the analyst consensus estimate by $ -0.99 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $0.12. The company had revenue of $1747.00 million for the quarter, compared to analysts expectations of $1809.32 million. The company’s revenue was up 59.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.

Many Wall Street Analysts have commented on Tesla Motors Inc. Company shares were Reiterated by Goldman on Apr 25, 2016 to “Neutral”, Firm has raised the Price Target to $ 245 from a previous price target of $202 .Tesla Motors Inc was Downgraded by Standpoint Research to ” Sell” on Apr 7, 2016. Company shares were Reiterated by Credit Suisse on Apr 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 280 from a previous price target of $240 .

Tesla Motors Inc. is a United States-based company which designs develops manufactures and sells electric vehicles electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S which is a fully electric four-door five-adult passenger sedan. In addition to developing its own vehicles it develops sells and services full electric powertrain systems and components to other automobile manufacturers. It also produces and sells stationary energy storage products for use in homes commercial sites and utilities. The applications for these battery systems include backup power peak demand reduction demand response and wholesale electric market services. It sells its vehicles through its own sales and service network. The Company also offers the Model X electric car Supercharger charging stations and Powerwall a home battery.

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