FCG Advisors LLC acquired a new stake in shares of Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 591 shares of the electric vehicle producer’s stock, valued at approximately $214,000.
A number of other institutional investors also recently modified their holdings of TSLA. SRS Capital Advisors Inc. grew its position in shares of Tesla by 1,213.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares during the period. Winfield Associates Inc. grew its position in shares of Tesla by 85.2% in the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Tesla in the 1st quarter worth about $122,000. Acropolis Investment Management LLC purchased a new stake in shares of Tesla in the 2nd quarter worth about $122,000. Finally, North Star Investment Management Corp. grew its position in shares of Tesla by 2.8% in the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares during the period. 56.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the transaction, the director now directly owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock valued at $18,481,047 over the last three months. 23.10% of the stock is currently owned by corporate insiders.
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Shares of Tesla Inc. (TSLA) traded down 1.02% during mid-day trading on Friday, reaching $347.03. The company had a trading volume of 1,187,341 shares. The company’s market capitalization is $57.91 billion. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The stock’s 50-day moving average price is $347.07 and its 200 day moving average price is $319.03.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted ($1.06) earnings per share. Tesla’s revenue for the quarter was up 119.6% on a year-over-year basis. Equities analysts expect that Tesla Inc. will post ($6.26) EPS for the current year.
A number of analysts have recently weighed in on TSLA shares. Vetr raised shares of Tesla from a “buy” rating to a “strong-buy” rating and set a $374.78 target price on the stock in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $180.00 target price (down from $190.00) on shares of Tesla in a research report on Monday, July 31st. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Guggenheim upped their target price on shares of Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $314.00 target price on shares of Tesla in a research report on Thursday, May 25th. Eight equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. Tesla presently has a consensus rating of “Hold” and an average price target of $313.70.
Tesla Company 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.
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