BKS Advisors LLC Increases Position in Tesla Inc (TSLA)
BKS Advisors LLC increased its position in Tesla Inc (NASDAQ:TSLA) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,305 shares of the electric vehicle producer’s stock after purchasing an additional 476 shares during the quarter. BKS Advisors LLC’s holdings in Tesla were worth $1,810,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its position in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock worth $25,129,000 after purchasing an additional 1,802 shares during the period. Smith Moore & CO. increased its position in Tesla by 56.3% in the third quarter. Smith Moore & CO. now owns 972 shares of the electric vehicle producer’s stock worth $332,000 after purchasing an additional 350 shares during the period. CIBC World Markets Inc. increased its position in Tesla by 74.2% in the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after purchasing an additional 4,504 shares during the period. WINTON GROUP Ltd acquired a new stake in Tesla in the second quarter worth about $681,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Tesla by 2.1% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,569 shares of the electric vehicle producer’s stock worth $13,156,000 after purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 55.71% of the company’s stock.
TSLA has been the topic of a number of recent analyst reports. Jefferies Group LLC cut Tesla from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $312.00 to $240.00 in a report on Friday, October 27th. Goldman Sachs Group Inc restated a “sell” rating and set a $180.00 target price (down previously from $190.00) on shares of Tesla in a report on Monday, July 31st. Nomura restated a “buy” rating and set a $500.00 target price on shares of Tesla in a report on Tuesday, October 31st. Vetr cut Tesla from a “sell” rating to a “strong sell” rating and set a $292.39 target price on the stock. in a report on Monday, October 23rd. Finally, KeyCorp restated a “hold” rating on shares of Tesla in a report on Friday, November 10th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $329.87.
Tesla Inc (NASDAQ TSLA) opened at $315.55 on Monday. Tesla Inc has a 1-year low of $180.00 and a 1-year high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $0.71 EPS. Tesla’s revenue for the quarter was up 29.9% on a year-over-year basis. sell-side analysts anticipate that Tesla Inc will post -11.38 earnings per share for the current year.
In other Tesla news, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John Douglas Field sold 600 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total value of $180,960.00. Following the completion of the sale, the vice president now owns 21,424 shares in the company, valued at approximately $6,461,478.40. The disclosure for this sale can be found here. Insiders have sold a total of 10,741 shares of company stock worth $3,579,311 in the last quarter. 23.10% of the stock is currently owned by company insiders.
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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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