Tower Research Capital LLC TRC trimmed its position in Tesla Inc (NASDAQ:TSLA) by 30.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,292 shares of the electric vehicle producer’s stock after selling 992 shares during the period. Tower Research Capital LLC TRC’s holdings in Tesla were worth $606,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new position in Tesla in the 3rd quarter valued at about $13,239,000. Royal London Asset Management Ltd. purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $19,278,000. Westpac Banking Corp raised its stake in shares of Tesla by 127.3% in the 3rd quarter. Westpac Banking Corp now owns 90,053 shares of the electric vehicle producer’s stock valued at $23,843,000 after acquiring an additional 50,440 shares during the period. Macquarie Group Ltd. raised its stake in shares of Tesla by 10.9% in the 2nd quarter. Macquarie Group Ltd. now owns 62,596 shares of the electric vehicle producer’s stock valued at $21,467,000 after acquiring an additional 6,147 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Tesla by 53.1% in the 2nd quarter. Signaturefd LLC now owns 853 shares of the electric vehicle producer’s stock valued at $293,000 after acquiring an additional 296 shares during the period. Institutional investors own 59.50% of the company’s stock.
In other Tesla news, Director Linda Johnson Rice sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $340.68, for a total value of $1,022,040.00. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $1,022,040. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the sale, the insider now directly owns 8,598 shares in the company, valued at $2,630,988. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,375 shares of company stock worth $9,029,040. Insiders own 22.80% of the company’s stock.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, topping the consensus estimate of ($1.77) by $4.67. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $5.67 billion. On average, research analysts forecast that Tesla Inc will post -5.09 earnings per share for the current fiscal year.
TSLA has been the topic of a number of research analyst reports. Vertical Group reissued a “sell” rating on shares of Tesla in a research note on Wednesday, September 19th. TheStreet downgraded shares of Tesla from a “c-” rating to a “d+” rating in a research note on Monday, October 8th. ValuEngine raised shares of Tesla from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 20th. Morningstar set a $179.00 price target on shares of Tesla and gave the company a “neutral” rating in a research note on Monday, September 3rd. Finally, JPMorgan Chase & Co. reissued a “sell” rating and issued a $195.00 price target on shares of Tesla in a research note on Friday, September 28th. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $320.85.
Tesla Company Profile
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.
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