Marcus Capital LLC Sells 7,500 Shares of Tesla Inc. (TSLA)
Marcus Capital LLC cut its holdings in shares of Tesla Inc. (NASDAQ:TSLA) by 36.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,850 shares of the electric vehicle producer’s stock after selling 7,500 shares during the period. Tesla accounts for approximately 6.2% of Marcus Capital LLC’s investment portfolio, making the stock its biggest holding. Marcus Capital LLC’s holdings in Tesla were worth $4,383,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Pittenger & Anderson Inc. increased its position in shares of Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares in the last quarter. Winfield Associates Inc. increased its position in shares of Tesla by 85.2% in the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after acquiring an additional 150 shares during the period. North Star Investment Management Corp. increased its position in shares of Tesla by 2.8% in the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after acquiring an additional 9 shares during the period. Carroll Financial Associates Inc. increased its position in shares of Tesla by 8.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after acquiring an additional 28 shares during the period. Finally, Cornerstone Advisors Inc. increased its position in shares of Tesla by 2.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after acquiring an additional 9 shares during the period. 56.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on TSLA shares. Citigroup Inc. started coverage on Tesla in a research report on Thursday, July 20th. They issued a “neutral” rating and a $357.00 target price on the stock. Vetr downgraded Tesla from a “strong-buy” rating to a “buy” rating and set a $371.27 target price on the stock. in a research report on Monday, July 24th. UBS AG reissued a “sell” rating and issued a $185.00 target price on shares of Tesla in a research report on Wednesday, July 26th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research report on Wednesday, July 26th. Finally, Sanford C. Bernstein set a $265.00 target price on Tesla and gave the company a “neutral” rating in a research report on Thursday, July 27th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $330.28.
In related news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders have sold a total of 55,518 shares of company stock valued at $18,819,611 in the last 90 days. Insiders own 23.10% of the company’s stock.
Shares of Tesla Inc. (NASDAQ:TSLA) traded up $3.19 during midday trading on Wednesday, hitting $311.89. 4,710,350 shares of the stock were exchanged, compared to its average volume of 6,401,490. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.71. Tesla Inc. has a fifty-two week low of $180.00 and a fifty-two week high of $389.61.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. sell-side analysts expect that Tesla Inc. will post -11.38 EPS for the current fiscal year.
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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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