Rothschild Asset Management Inc. Cuts Stake in Tesla Inc. (TSLA)
Rothschild Asset Management Inc. cut its position in Tesla Inc. (NASDAQ:TSLA) by 29.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,266 shares of the electric vehicle producer’s stock after selling 518 shares during the period. Rothschild Asset Management Inc.’s holdings in Tesla were worth $458,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Tesla by 10.9% in the first quarter. FMR LLC now owns 24,450,435 shares of the electric vehicle producer’s stock worth $6,804,556,000 after buying an additional 2,400,034 shares in the last quarter. Baillie Gifford & Co. boosted its position in Tesla by 2.5% in the first quarter. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer’s stock worth $3,792,025,000 after buying an additional 336,130 shares in the last quarter. Vanguard Group Inc. boosted its position in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after buying an additional 280,941 shares in the last quarter. Jennison Associates LLC boosted its position in Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in Tesla by 4.1% in the first quarter. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer’s stock worth $338,313,000 after buying an additional 47,550 shares in the last quarter. 63.71% of the stock is owned by institutional investors and hedge funds.
Shares of Tesla Inc. (TSLA) opened at 357.87 on Friday. The stock’s market capitalization is $59.72 billion. The company’s 50-day moving average is $341.13 and its 200 day moving average is $307.07. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm earned ($1.06) earnings per share. The firm’s quarterly revenue was up 119.6% compared to the same quarter last year. Equities research analysts predict that Tesla Inc. will post ($6.29) earnings per share for the current year.
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A number of equities analysts have commented on TSLA shares. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 price target for the company in a research note on Tuesday, April 25th. Vetr cut shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price target for the company. in a research note on Thursday, August 3rd. Deutsche Bank AG reissued a “hold” rating and issued a $240.00 price target on shares of Tesla in a research note on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price target (down previously from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada boosted their price target 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. Seven equities research 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. Tesla presently has an average rating of “Hold” and an average target price of $309.70.
In other Tesla news, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value of $1,724,419.20. Following the transaction, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.10% of the stock is owned by insiders.
Tesla Company Profile
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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