Eventide Asset Management LLC held its stake in Tesla Inc. (NASDAQ:TSLA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the electric vehicle producer’s stock at the end of the first quarter. Eventide Asset Management LLC’s holdings in Tesla were worth $11,132,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock valued at $6,804,556,000 after buying an additional 2,400,034 shares during the period. Norges Bank acquired a new stake in Tesla during the fourth quarter valued at $94,658,000. Renaissance Technologies LLC raised its stake in Tesla by 117.7% in the first quarter. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer’s stock valued at $188,630,000 after buying an additional 366,400 shares during the period. Baillie Gifford & Co. raised its stake in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock valued at $3,792,025,000 after buying an additional 336,130 shares during the period. Finally, Vanguard Group Inc. raised its stake in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the period. Hedge funds and other institutional investors own 63.77% of the company’s stock.
Tesla Inc. (TSLA) traded up 0.50% during mid-day trading on Friday, reaching $384.51. 4,457,687 shares of the company’s stock traded hands. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The firm’s market cap is $63.16 billion. The firm has a 50 day moving average of $334.64 and a 200 day moving average of $275.06.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS 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 business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Analysts forecast that Tesla Inc. will post ($5.72) EPS for the current year.
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TSLA has been the topic of several research reports. J P Morgan Chase & Co increased their price objective on shares of Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research note on Monday, May 15th. Guggenheim increased their price objective on shares of Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Morgan Stanley lowered shares of Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price objective on the stock. in a research note on Monday, May 15th. Finally, Vetr cut shares of Tesla from a “sell” rating to a “strong sell” rating and set a $231.01 target price for the company. in a research report on Monday, March 27th. Eight equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Tesla presently has an average rating of “Hold” and a consensus price target of $291.50.
In related news, Director Kimbal Musk sold 2,500 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $286.28, for a total value of $715,700.00. Following the transaction, the director now directly owns 170,546 shares in the company, valued at $48,823,908.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey B. Straubel sold 109,100 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $307.81, for a total transaction of $33,582,071.00. The disclosure for this sale can be found here. Insiders sold 242,791 shares of company stock worth $74,745,344 over the last 90 days. 23.10% of the stock is currently 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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