Cubist Systematic Strategies LLC Acquires New Holdings in Tesla Inc. (TSLA)

Cubist Systematic Strategies LLC acquired a new stake in Tesla Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,561 shares of the electric vehicle producer’s stock, valued at approximately $3,457,000.

A number of other large investors have also recently modified their holdings of TSLA. Envestnet Asset Management Inc. increased its stake in Tesla by 70.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,504 shares of the electric vehicle producer’s stock valued at $419,000 after buying an additional 621 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Tesla during the 1st quarter valued at about $240,000. Neuberger Berman Group LLC increased its stake in Tesla by 45.0% during the 1st quarter. Neuberger Berman Group LLC now owns 5,705 shares of the electric vehicle producer’s stock valued at $1,588,000 after buying an additional 1,771 shares during the period. AXA increased its stake in Tesla by 23.3% during the 1st quarter. AXA now owns 2,096 shares of the electric vehicle producer’s stock valued at $583,000 after buying an additional 396 shares during the period. Finally, BB&T Securities LLC acquired a new position in shares of Tesla in the 1st quarter worth approximately $283,000. Hedge funds and other institutional investors own 56.62% of the company’s stock.

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Shares of Tesla Inc. (NASDAQ:TSLA) traded up 0.5020% during midday trading on Tuesday, reaching $352.3601. The company’s stock had a trading volume of 797,112 shares. The firm has a 50-day moving average of $355.31 and a 200-day moving average of $338.28. The stock’s market cap is $58.80 billion. Tesla Inc. has a one year low of $178.19 and a one year high of $389.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned ($1.06) EPS. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, analysts forecast that Tesla Inc. will post ($6.41) EPS for the current year.

Several brokerages have recently issued reports on TSLA. Piper Jaffray Companies set a $386.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Monday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Tesla in a research report on Monday. Barclays PLC reissued a “sell” rating on shares of Tesla in a research report on Sunday. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 target price on the stock in a research report on Friday. Finally, Morgan Stanley raised their price target on shares of Tesla from $317.00 to $379.00 and gave the stock an “equal weight” rating in a report on Monday, October 9th. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $327.37.

In related news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the transaction, the director now owns 158,584 shares of the company’s stock, valued at approximately $56,329,036.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were 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. In the last 90 days, insiders sold 51,446 shares of company stock valued at $17,504,929. 23.10% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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