Sciencast Management LP Takes $344,000 Position in Tesla Inc. (NASDAQ:TSLA)

Sciencast Management LP acquired a new position in Tesla Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 950 shares of the electric vehicle producer’s stock, valued at approximately $344,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can raised its stake in shares of Tesla by 2.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock worth $25,129,000 after buying an additional 1,802 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Tesla by 0.9% during the 1st quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock worth $2,233,000 after buying an additional 74 shares during the period. Vanguard Group Inc. raised its stake in shares of Tesla by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after buying an additional 280,941 shares during the period. Main Street Research LLC acquired a new position in shares of Tesla during the 2nd quarter worth approximately $602,000. Finally, CIBC World Markets Inc. raised its stake in shares of Tesla by 74.2% during the 2nd quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after buying an additional 4,504 shares during the period. Institutional investors and hedge funds own 56.62% of the company’s stock.

Several brokerages have recently weighed in on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $411.00 target price on shares of Tesla in a research note on Monday, September 18th. Jefferies Group LLC began coverage on Tesla in a research note on Tuesday, September 19th. They set an “underperform” rating and a $280.00 target price for the company. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 target price on Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $341.74 target price for the company in a research note on Wednesday, September 20th. Finally, BidaskClub downgraded Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Ten equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $327.37.

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Tesla Inc. (TSLA) traded up 1.420% during midday trading on Wednesday, reaching $360.801. The company’s stock had a trading volume of 1,801,501 shares. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $389.61. The stock’s 50-day moving average price is $355.31 and its 200-day moving average price is $338.28. The firm’s market capitalization is $60.21 billion.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s revenue was up 119.6% compared to the same quarter last year. During the same period last year, the company earned ($1.06) earnings per share. Analysts predict that Tesla Inc. will post ($6.51) EPS for the current year.

In related news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction dated 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. Over the last ninety days, insiders sold 51,446 shares of company stock worth $17,504,929. 23.10% of the stock is currently owned by company insiders.

Tesla 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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