Fiduciary Financial Services of The Southwest Inc. TX Holds Position in Tesla Inc. (TSLA)
Fiduciary Financial Services of The Southwest Inc. TX held its stake in shares of Tesla Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel reports. The institutional investor owned 722 shares of the electric vehicle producer’s stock at the end of the second quarter. Fiduciary Financial Services of The Southwest Inc. TX’s holdings in Tesla were worth $261,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock valued at $10,391,000 after buying an additional 8,800 shares during the last quarter. Capstone Asset Management Co. increased its position in Tesla by 17.1% in the first quarter. Capstone Asset Management Co. now owns 3,233 shares of the electric vehicle producer’s stock valued at $900,000 after buying an additional 472 shares during the last quarter. 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. TB Alternative Assets Ltd. acquired a new position in Tesla during the first quarter valued at about $2,533,000. Finally, 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. 62.92% of the stock is owned by institutional investors.
Tesla Inc. (NASDAQ TSLA) opened at 363.80 on Tuesday. The firm’s market cap is $60.71 billion. The company’s 50-day moving average price is $340.57 and its 200 day moving average price is $308.64. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business earned ($1.06) earnings per share. The company’s revenue was up 119.6% compared to the same quarter last year. On average, equities analysts expect that Tesla Inc. will post ($6.31) earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. UBS AG reiterated a “sell” rating and set a $160.00 price objective on shares of Tesla in a research report on Wednesday, May 3rd. Morgan Stanley raised their price target on shares of Tesla from $305.00 to $317.00 and gave the stock an “equal weight” rating in a report on Monday. Robert W. Baird reiterated an “outperform” rating and set a $411.00 price objective (up from $368.00) on shares of Tesla in a report on Monday. Vetr cut shares of Tesla from a “hold” rating to a “sell” rating and set a $335.57 price objective for the company. in a report on Tuesday. Finally, Argus reiterated a “hold” rating on shares of Tesla in a report on Thursday, May 11th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $310.34.
In related news, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now owns 160,274 shares in the company, valued at $51,505,652.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 23.10% of the company’s stock.
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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