Schwab Charles Investment Management Inc. increased its stake in Tesla Inc. (NASDAQ:TSLA) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,342 shares of the electric vehicle producer’s stock after buying an additional 10,163 shares during the period. Schwab Charles Investment Management Inc. owned 0.12% of Tesla worth $54,921,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. AMF Pensionsforsakring AB purchased a new stake in Tesla during the fourth quarter valued at about $2,030,000. Tide Point Capital Management LP increased its position in shares of Tesla by 42.6% in the fourth quarter. Tide Point Capital Management LP now owns 81,034 shares of the electric vehicle producer’s stock worth $17,316,000 after buying an additional 24,215 shares during the period. Zurich Insurance Group Ltd FI boosted its stake in shares of Tesla by 7.3% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 15,525 shares of the electric vehicle producer’s stock worth $3,318,000 after buying an additional 1,051 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Tesla during the fourth quarter worth about $529,000. Finally, Parallel Advisors LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $104,000. Institutional investors and hedge funds own 63.77% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) traded up 1.42% during mid-day trading on Friday, reaching $313.22. 14,176,915 shares of the company were exchanged. The firm’s market capitalization is $51.45 billion. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The stock has a 50-day moving average of $346.84 and a 200 day moving average of $283.13.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Equities research analysts forecast that Tesla Inc. will post ($5.75) earnings per share for the current year.
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A number of equities research analysts have recently issued reports on the company. Vetr upgraded Tesla from a “buy” rating to a “strong-buy” rating and set a $361.76 price objective for the company in a report on Monday. Cowen and Company restated an “underperform” rating and set a $155.00 target price on shares of Tesla in a research note on Thursday. Guggenheim reiterated a “buy” rating and set a $430.00 price target (up from $380.00) on shares of Tesla in a report on Wednesday. Robert W. Baird reiterated an “outperform” rating and set a $368.00 price target on shares of Tesla in a report on Wednesday. Finally, KeyCorp restated a “hold” rating on shares of Tesla in a report on Wednesday. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $299.07.
In other Tesla news, Director Robyn M. Denholm sold 20,000 shares of Tesla stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $311.76, for a total value of $6,235,200.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $6,235,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $367.68, for a total value of $1,724,419.20. Following the completion of the transaction, the director now directly owns 166,164 shares in the company, valued at $61,095,179.52. The disclosure for this sale can be found here. In the last three months, insiders sold 244,481 shares of company stock valued at $75,603,338. 23.10% of the stock is owned by corporate 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.
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