Sonata Capital Group Inc. Cuts Position in Tesla Inc. (TSLA)

Sonata Capital Group Inc. decreased its position in Tesla Inc. (NASDAQ:TSLA) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,358 shares of the electric vehicle producer’s stock after selling 100 shares during the period. Sonata Capital Group Inc.’s holdings in Tesla were worth $491,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Gemmer Asset Management LLC increased its position in Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 58 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Tesla by 24.3% in the first quarter. Nisa Investment Advisors LLC now owns 8,450 shares of the electric vehicle producer’s stock valued at $2,352,000 after buying an additional 1,650 shares during the last quarter. DnB Asset Management AS increased its position in Tesla by 26.4% in the first quarter. DnB Asset Management AS now owns 13,411 shares of the electric vehicle producer’s stock valued at $3,732,000 after buying an additional 2,801 shares during the last quarter. TB Alternative Assets Ltd. purchased a new position in Tesla during the first quarter valued at $2,533,000. Finally, Evanson Asset Management LLC increased its position in Tesla by 198.9% in the first quarter. Evanson Asset Management LLC now owns 3,787 shares of the electric vehicle producer’s stock valued at $1,054,000 after buying an additional 2,520 shares during the last quarter. 62.92% of the stock is owned by institutional investors and hedge funds.

Shares of Tesla Inc. (TSLA) traded down 1.27% during midday trading on Friday, reaching $347.46. The company had a trading volume of 5,408,183 shares. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99. The company’s market capitalization is $57.99 billion. The firm’s 50 day moving average price is $339.22 and its 200-day moving average price is $310.81.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned ($1.06) EPS. The business’s revenue was up 119.6% on a year-over-year basis. Analysts anticipate that Tesla Inc. will post ($6.18) earnings per share for the current fiscal year.

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A number of equities research analysts have commented on TSLA shares. J P Morgan Chase & Co increased their target price on Tesla from $185.00 to $190.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 target price on Tesla and gave the company a “sell” rating in a report on Monday, May 15th. Guggenheim increased their target price on Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a report on Monday, May 15th. Morgan Stanley cut Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price objective on the stock. in a report on Monday, May 15th. Finally, Cowen and Company restated an “underperform” rating and set a $155.00 price objective on shares of Tesla in a report on Monday, May 1st. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $310.84.

In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now owns 160,274 shares in the company, valued at approximately $51,505,652.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.10% of the stock is owned by 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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