People s United Financial Inc. Raises Holdings in Tesla Inc. (TSLA)
People s United Financial Inc. boosted its position in shares of Tesla Inc. (NASDAQ:TSLA) by 11.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,941 shares of the electric vehicle producer’s stock after acquiring an additional 198 shares during the quarter. People s United Financial Inc.’s holdings in Tesla were worth $702,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Pittenger & Anderson Inc. lifted its position in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after acquiring an additional 50 shares during the period. SRS Capital Advisors Inc. lifted its position in Tesla by 1,213.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after acquiring an additional 364 shares during the period. Winfield Associates Inc. lifted its position in Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares during the period. Acropolis Investment Management LLC acquired a new stake in Tesla during the 2nd quarter worth about $122,000. Finally, North Star Investment Management Corp. lifted its position in Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares during the period. 56.63% of the stock is owned by institutional investors.
A number of analysts have commented on the company. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their price target for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 price target on shares of Tesla in a research report on Tuesday, June 20th. Argus raised Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.17 to $444.00 in a report on Tuesday, August 8th. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price objective for the company. in a report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price objective (down previously from $190.00) on shares of Tesla in a report on Monday, July 31st. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $324.87.
In related news, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the sale, the director now owns 158,584 shares of the company’s stock, valued at approximately $56,329,036.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction dated 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 51,446 shares of company stock worth $17,504,929 in the last 90 days. Company insiders own 23.10% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) opened at 355.33 on Friday. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $389.61. The firm’s market capitalization is $59.30 billion. The firm’s 50-day moving average price is $354.05 and its 200-day moving average price is $333.37.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.06) EPS. On average, equities research analysts predict that Tesla Inc. will post ($6.28) EPS for the current fiscal year.
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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