SG Americas Securities LLC Boosts Position in Tesla Inc. (TSLA)
SG Americas Securities LLC increased its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 15.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,963 shares of the electric vehicle producer’s stock after buying an additional 12,748 shares during the period. SG Americas Securities LLC’s holdings in Tesla were worth $34,340,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of TSLA. Macquarie Group Ltd. boosted its position in shares of Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock worth $10,391,000 after buying an additional 8,800 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Tesla by 17.1% in the first quarter. Capstone Asset Management Co. now owns 3,233 shares of the electric vehicle producer’s stock worth $900,000 after buying an additional 472 shares during the last quarter. Evanson Asset Management LLC boosted its position in shares of Tesla by 198.9% in the first quarter. Evanson Asset Management LLC now owns 3,787 shares of the electric vehicle producer’s stock worth $1,054,000 after buying an additional 2,520 shares during the last quarter. TB Alternative Assets Ltd. acquired a new position in shares of Tesla during the first quarter worth approximately $2,533,000. Finally, DnB Asset Management AS boosted its position in shares of Tesla by 26.4% in the first quarter. DnB Asset Management AS now owns 13,411 shares of the electric vehicle producer’s stock worth $3,732,000 after buying an additional 2,801 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.
Tesla Inc. (NASDAQ TSLA) opened at 364.7145 on Tuesday. Tesla Inc. has a one year low of $178.19 and a one year high of $386.99. The firm has a 50-day moving average of $340.57 and a 200 day moving average of $308.64. The stock’s market capitalization is $60.87 billion.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s revenue was up 119.6% on a year-over-year basis. During the same period last year, the firm posted ($1.06) EPS. On average, equities research analysts anticipate that Tesla Inc. will post ($6.31) earnings per share for the current fiscal year.
TSLA has been the topic of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research report on Monday, April 17th. Guggenheim reiterated a “buy” rating and issued a $320.00 target price on shares of Tesla in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $187.00 target price on shares of Tesla in a research report on Saturday, April 22nd. Zacks Investment Research upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price on the stock in a research report on Tuesday, April 25th. Finally, Bank of America Corporation decreased their target price on shares of Tesla from $170.00 to $165.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 26th. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $310.34.
In related news, Director Kimbal Musk sold 2,190 shares of the 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 completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.10% of the company’s stock.
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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