Arete Wealth Advisors LLC acquired a new stake in shares of Tesla Inc (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 687 shares of the electric vehicle producer’s stock, valued at approximately $229,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank increased its position in Tesla by 12.6% in the third quarter. Toronto Dominion Bank now owns 14,211 shares of the electric vehicle producer’s stock worth $3,762,000 after buying an additional 1,585 shares in the last quarter. MML Investors Services LLC increased its position in Tesla by 19.8% in the third quarter. MML Investors Services LLC now owns 9,650 shares of the electric vehicle producer’s stock worth $2,555,000 after buying an additional 1,598 shares in the last quarter. Alliancebernstein L.P. increased its position in Tesla by 0.4% in the third quarter. Alliancebernstein L.P. now owns 85,587 shares of the electric vehicle producer’s stock worth $22,661,000 after buying an additional 328 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Tesla in the third quarter worth about $615,000. Finally, Sheaff Brock Investment Advisors LLC increased its position in Tesla by 22.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 1,261 shares of the electric vehicle producer’s stock worth $334,000 after buying an additional 230 shares in the last quarter. 58.67% of the stock is owned by institutional investors.
TSLA has been the subject of a number of analyst reports. Oppenheimer upped their price target on Tesla from $418.00 to $437.00 and gave the stock an “outperform” rating in a research report on Thursday, January 31st. Berenberg Bank set a $500.00 price target on Tesla and gave the stock a “buy” rating in a research report on Friday, March 1st. Canaccord Genuity upgraded Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $330.00 to $450.00 in a research report on Monday, February 11th. Goldman Sachs Group restated a “sell” rating and issued a $225.00 price target on shares of Tesla in a research report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. set a $220.00 target price on Tesla and gave the stock a “sell” rating in a research report on Thursday, January 3rd. Fifteen research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $327.95.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.93. The business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The firm’s revenue for the quarter was up 119.8% compared to the same quarter last year. During the same quarter last year, the business posted ($3.04) EPS. As a group, research analysts forecast that Tesla Inc will post 1.64 EPS for the current fiscal year.
In other Tesla news, Director Antonio J. Gracias sold 8,390 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $317.58, for a total transaction of $2,664,496.20. Following the completion of the transaction, the director now owns 24,332 shares in the company, valued at approximately $7,727,356.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $285.46, for a total value of $4,790,018.80. Following the transaction, the director now owns 16,792 shares of the company’s stock, valued at approximately $4,793,444.32. The disclosure for this sale can be found here. Insiders have sold a total of 124,130 shares of company stock valued at $39,063,084 in the last 90 days. 22.80% of the stock is currently owned by company insiders.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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