Ingalls & Snyder LLC acquired a new stake in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 563 shares of the electric vehicle producer’s stock, valued at approximately $204,000.
Other hedge funds have also made changes to their positions in the company. Gemmer Asset Management LLC boosted its stake in shares of Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 58 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Tesla by 24.3% in the first quarter. Nisa Investment Advisors LLC now owns 8,450 shares of the electric vehicle producer’s stock valued at $2,352,000 after buying an additional 1,650 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Tesla by 26.4% in the first quarter. DnB Asset Management AS now owns 13,411 shares of the electric vehicle producer’s stock valued at $3,732,000 after buying an additional 2,801 shares during the last quarter. TB Alternative Assets Ltd. bought a new stake in shares of Tesla during the first quarter valued at $2,533,000. Finally, Evanson Asset Management LLC boosted its stake in shares of Tesla by 198.9% in the first quarter. Evanson Asset Management LLC now owns 3,787 shares of the electric vehicle producer’s stock valued at $1,054,000 after buying an additional 2,520 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.
Shares of Tesla Inc. (NASDAQ:TSLA) traded down 1.27% during trading on Friday, reaching $347.46. 5,408,183 shares of the company were exchanged. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The firm has a 50-day moving average price of $339.22 and a 200-day moving average price of $310.81. The stock’s market capitalization is $57.99 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the business earned ($1.06) EPS. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. Equities research analysts predict that Tesla Inc. will post ($6.18) earnings per share for the current fiscal year.
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TSLA has been the subject of a number of research reports. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $345.00 price target on the stock in a report on Tuesday, April 25th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price target on the stock. in a report on Thursday, August 3rd. Deutsche Bank AG reiterated a “hold” rating and set a $240.00 price target on shares of Tesla in a report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $180.00 target price (down from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada boosted their target price on Tesla from $314.00 to $345.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. Tesla presently has an average rating of “Hold” and a consensus target price of $310.84.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.10% of the company’s stock.
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.
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