Baillie Gifford & Co. lessened its stake in Tesla Inc. (NASDAQ:TSLA) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,096,158 shares of the electric vehicle producer’s stock after selling 327,934 shares during the quarter. Tesla makes up 5.7% of Baillie Gifford & Co.’s holdings, making the stock its 4th biggest position. Baillie Gifford & Co. owned about 7.85% of Tesla worth $4,467,100,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in Tesla by 2.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after acquiring an additional 1,802 shares during the period. Main Street Research LLC bought a new stake in Tesla in the 2nd quarter valued at $602,000. CIBC World Markets Inc. raised its stake in Tesla by 74.2% in the 2nd quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after acquiring an additional 4,504 shares during the period. WINTON GROUP Ltd bought a new stake in Tesla in the 2nd quarter valued at $681,000. Finally, Aperio Group LLC raised its stake in Tesla by 16.9% in the 2nd quarter. Aperio Group LLC now owns 29,536 shares of the electric vehicle producer’s stock valued at $10,680,000 after acquiring an additional 4,274 shares during the period. 56.45% of the stock is owned by institutional investors.
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A number of research firms recently weighed in on TSLA. Robert W. Baird restated an “outperform” rating and issued a $411.00 price target 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 issued an “underperform” rating and a $280.00 price target on the stock. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a “neutral” rating in a research note on Wednesday, September 20th. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $341.74 price target on the stock in a research note on Wednesday, September 20th. Finally, Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $200.00 price target (up previously from $180.00) on shares of Tesla in a research note on Wednesday, August 9th. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Tesla has a consensus rating of “Hold” and an average price target of $332.78.
Shares of Tesla Inc. (NASDAQ:TSLA) traded down 2.9948% during mid-day trading on Wednesday, hitting $321.6012. The stock had a trading volume of 3,174,768 shares. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $389.61. The firm has a 50 day moving average price of $350.92 and a 200-day moving average price of $341.49. The stock’s market cap is $53.67 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.67. The firm 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 company’s revenue was up 119.6% on a year-over-year basis. During the same period in the prior year, the company earned ($1.06) EPS. On average, equities research analysts forecast that Tesla Inc. will post ($6.70) EPS for the current year.
In related news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the sale, the director now directly owns 158,584 shares in the company, valued at approximately $56,329,036.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the sale, the director now owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold a total of 50,992 shares of company stock valued at $17,390,505 over the last 90 days. 23.10% of the stock is currently 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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