Sigma Investment Counselors Inc. Has $417,000 Position in Tesla Inc. (NASDAQ:TSLA)
Sigma Investment Counselors Inc. continued to hold its stake in shares of Tesla Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel reports. The fund owned 1,154 shares of the electric vehicle producer’s stock at the end of the second quarter. Sigma Investment Counselors Inc.’s holdings in Tesla were worth $417,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Wetherby Asset Management Inc. raised its stake in shares of Tesla by 6.0% in the second quarter. Wetherby Asset Management Inc. now owns 2,345 shares of the electric vehicle producer’s stock valued at $848,000 after buying an additional 132 shares during the last quarter. GenTrust LLC acquired a new stake in shares of Tesla during the second quarter valued at about $734,000. Trexquant Investment LP acquired a new stake in shares of Tesla during the second quarter valued at about $341,000. Arrow Financial Corp raised its position in Tesla by 5.2% in the second quarter. Arrow Financial Corp now owns 8,211 shares of the electric vehicle producer’s stock valued at $2,969,000 after buying an additional 407 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Tesla by 34.8% in the second quarter. Global X Management Co. LLC now owns 43,819 shares of the electric vehicle producer’s stock valued at $15,845,000 after buying an additional 11,323 shares in the last quarter. Hedge funds and other institutional investors own 63.71% of the company’s stock.
Tesla Inc. (NASDAQ TSLA) opened at 363.53 on Thursday. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $386.99. The company’s market capitalization is $60.06 billion. The stock has a 50 day moving average of $342.44 and a 200-day moving average of $305.94.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned ($1.06) EPS. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla Inc. will post ($6.29) earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on TSLA shares. Argus restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 12th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a report on Monday, April 17th. Guggenheim reissued a “buy” rating and issued a $320.00 price objective on shares of Tesla in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $187.00 price objective on shares of Tesla in a report on Saturday, April 22nd. Finally, Zacks Investment Research raised shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Tuesday, April 25th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $309.65.
In other news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now owns 160,274 shares in the company, valued at $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 23.10% of the company’s stock.
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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