IMS Capital Management Has $809,000 Stake in Tesla Inc. (TSLA)
IMS Capital Management maintained its position in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,237 shares of the electric vehicle producer’s stock at the end of the second quarter. IMS Capital Management’s holdings in Tesla were worth $809,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Manhattan Co. raised its position in Tesla by 6.0% in the first quarter. First Manhattan Co. now owns 890 shares of the electric vehicle producer’s stock worth $181,000 after buying an additional 50 shares during the period. Personal Capital Advisors Corp raised its position in Tesla by 2,038.4% in the first quarter. Personal Capital Advisors Corp now owns 64,089 shares of the electric vehicle producer’s stock worth $17,777,000 after buying an additional 61,092 shares during the period. Crestwood Advisors Group LLC purchased a new position in Tesla during the first quarter worth approximately $101,000. Mn Services Vermogensbeheer B.V. raised its position in Tesla by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,456 shares of the electric vehicle producer’s stock worth $899,000 after buying an additional 125 shares during the period. Finally, CAPROCK Group Inc. raised its position in Tesla by 10.7% in the first quarter. CAPROCK Group Inc. now owns 1,581 shares of the electric vehicle producer’s stock worth $440,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) opened at 362.33 on Wednesday. The company’s market cap is $60.47 billion. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $386.99. The stock has a 50 day moving average of $340.14 and a 200 day moving average of $309.43.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm earned ($1.06) EPS. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, analysts expect that Tesla Inc. will post ($6.34) earnings per share for the current year.
A number of research firms have recently issued reports on TSLA. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price objective for the company in a report on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 price objective on shares of Tesla in a report on Tuesday, June 20th. BidaskClub downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $345.00 price objective (up from $314.00) on shares of Tesla in a report on Wednesday, August 9th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $240.00 price objective on shares of Tesla in a report on Wednesday, August 9th. Eight equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $310.34.
In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Tuesday, August 1st. The shares were 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 of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.10% of the stock is owned by insiders.
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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