QS Investors LLC Acquires 198 Shares of Tesla Inc. (TSLA)
QS Investors LLC lifted its holdings in Tesla Inc. (NASDAQ:TSLA) by 46.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 625 shares of the electric vehicle producer’s stock after acquiring an additional 198 shares during the quarter. QS Investors LLC’s holdings in Tesla were worth $226,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Tesla by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after acquiring an additional 292,602 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Tesla by 4.3% in the 2nd quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock worth $1,085,801,000 after acquiring an additional 124,511 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Tesla by 0.4% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 692,792 shares of the electric vehicle producer’s stock worth $250,521,000 after acquiring an additional 2,754 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Tesla by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 538,252 shares of the electric vehicle producer’s stock worth $194,637,000 after acquiring an additional 41,435 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Tesla by 3.1% in the 2nd quarter. Swiss National Bank now owns 470,185 shares of the electric vehicle producer’s stock worth $170,024,000 after acquiring an additional 14,100 shares during the last quarter. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Shares of Tesla Inc. (NASDAQ TSLA) opened at 345.10 on Friday. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $389.61. The stock’s 50 day moving average price is $355.47 and its 200 day moving average price is $339.93. The company’s market capitalization is $57.59 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company posted ($1.06) EPS. The company’s quarterly revenue was up 119.6% on a year-over-year basis. On average, equities research analysts forecast that Tesla Inc. will post ($6.59) earnings per share for the current fiscal year.
Several research analysts recently commented on TSLA shares. Vetr downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 target price on the stock. in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $180.00 target price (down from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Sanford C. Bernstein set a $265.00 target price on shares of Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. Royal Bank Of Canada lifted their target price on shares of Tesla from $314.00 to $345.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 3rd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $430.00 target price on shares of Tesla in a research note on Thursday, August 10th. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $327.20.
In other news, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the transaction, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,446 shares of company stock worth $17,504,929. Corporate insiders own 23.10% of the company’s stock.
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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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