Advisory Research Inc. Sells 352 Shares of Tesla Inc (TSLA)

Advisory Research Inc. decreased its stake in Tesla Inc (NASDAQ:TSLA) by 22.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,236 shares of the electric vehicle producer’s stock after selling 352 shares during the period. Advisory Research Inc.’s holdings in Tesla were worth $327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Clearstead Advisors LLC increased its position in shares of Tesla by 15.6% during the 3rd quarter. Clearstead Advisors LLC now owns 2,207 shares of the electric vehicle producer’s stock valued at $584,000 after purchasing an additional 298 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Tesla by 76.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 274,168 shares of the electric vehicle producer’s stock valued at $72,591,000 after purchasing an additional 119,054 shares during the period. Focused Wealth Management Inc increased its position in shares of Tesla by 13.3% during the 3rd quarter. Focused Wealth Management Inc now owns 3,420 shares of the electric vehicle producer’s stock valued at $906,000 after purchasing an additional 401 shares during the period. Westpac Banking Corp increased its position in shares of Tesla by 127.3% during the 3rd quarter. Westpac Banking Corp now owns 90,053 shares of the electric vehicle producer’s stock valued at $23,843,000 after purchasing an additional 50,440 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Tesla by 1.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 129,406 shares of the electric vehicle producer’s stock valued at $34,263,000 after purchasing an additional 1,400 shares during the period. 59.50% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on TSLA shares. Zacks Investment Research upgraded Tesla from a “hold” rating to a “strong-buy” rating and set a $381.00 price target on the stock in a research report on Tuesday, October 30th. JPMorgan Chase & Co. reiterated a “sell” rating and set a $225.00 price target (up from $195.00) on shares of Tesla in a research report on Thursday, October 25th. Nord/LB reiterated a “sell” rating and set a $230.00 price target on shares of Tesla in a research report on Tuesday, September 11th. Oppenheimer reiterated a “buy” rating and set a $385.00 price target on shares of Tesla in a research report on Monday, October 1st. Finally, Sanford C. Bernstein set a $325.00 target price on Tesla and gave the stock a “neutral” rating in a report on Friday, September 28th. Thirteen research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Tesla currently has a consensus rating of “Hold” and an average price target of $314.63.

In related news, insider Jerome M. Guillen sold 1,000 shares of Tesla stock in a transaction on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the sale, the insider now owns 8,598 shares of the company’s stock, valued at $2,630,988. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction on Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the sale, the director now directly owns 150,208 shares of the company’s stock, valued at approximately $45,963,648. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,375 shares of company stock valued at $8,668,760. 22.80% of the stock is currently owned by insiders.

Shares of Tesla stock opened at $358.49 on Tuesday. The firm has a market capitalization of $60.19 billion, a PE ratio of -31.23 and a beta of 0.59. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 1.82. Tesla Inc has a 12 month low of $244.59 and a 12 month high of $387.46.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. As a group, analysts predict that Tesla Inc will post -5.09 earnings per share for the current fiscal year.

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About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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