National Planning Corp raised its position in shares of Tesla Inc (NASDAQ:TSLA) by 11.1% during the second quarter, Holdings Channel reports. The firm owned 3,919 shares of the electric vehicle producer’s stock after buying an additional 390 shares during the period. National Planning Corp’s holdings in Tesla were worth $1,382,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. raised its stake in Tesla by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,456 shares of the electric vehicle producer’s stock worth $899,000 after buying an additional 125 shares during the period. CAPROCK Group Inc. raised its stake in Tesla by 10.7% in the first quarter. CAPROCK Group Inc. now owns 1,581 shares of the electric vehicle producer’s stock worth $440,000 after buying an additional 153 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Tesla by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,879 shares of the electric vehicle producer’s stock worth $8,316,000 after buying an additional 4,530 shares during the period. State of Alaska Department of Revenue acquired a new stake in Tesla during the first quarter worth about $201,000. Finally, Gemmer Asset Management LLC raised its stake in Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock worth $211,000 after buying an additional 58 shares during the period. 63.71% of the stock is currently owned by hedge funds and other institutional investors.
Tesla Inc (TSLA) opened at 355.40 on Friday. The firm’s market capitalization is $59.31 billion. The firm has a 50-day moving average price of $341.84 and a 200-day moving average price of $306.29. Tesla Inc has a 1-year low of $178.19 and a 1-year high of $386.99.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 26.74% and a negative net margin of 14.39%. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period last year, the company earned ($1.06) EPS. Equities analysts expect that Tesla Inc will post ($6.29) earnings per share for the current fiscal year.
Several brokerages have recently weighed in on TSLA. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price objective on the stock in a report on Tuesday, June 13th. Robert W. Baird reissued an “outperform” rating and set a $368.00 price objective on shares of Tesla in a report on Tuesday, June 20th. BidaskClub lowered Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $200.00 price objective (up previously from $180.00) on shares of Tesla in a report on Wednesday. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $345.00 price objective (up previously from $314.00) on shares of Tesla in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $309.70.
In other 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 value of $703,778.40. Following the completion of the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 23.10% of the stock is 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.
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