Tesla Inc (NASDAQ:TSLA) Shares Bought by Traynor Capital Management Inc.
Traynor Capital Management Inc. boosted its stake in shares of Tesla Inc (NASDAQ:TSLA) by 307.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,338 shares of the electric vehicle producer’s stock after buying an additional 2,519 shares during the period. Traynor Capital Management Inc.’s holdings in Tesla were worth $1,119,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC purchased a new position in Tesla during the first quarter valued at $101,000. SRS Capital Advisors Inc. raised its position in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. raised its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC purchased a new position in Tesla during the first quarter valued at $122,000. Finally, Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter valued at $122,000. 63.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tesla Inc (TSLA) traded up 0.206% during midday trading on Friday, hitting $356.131. The stock had a trading volume of 794,331 shares. The firm’s 50-day moving average price is $341.84 and its 200-day moving average price is $306.29. The firm’s market capitalization is $59.43 billion. Tesla Inc has a one year low of $178.19 and a one year high of $386.99.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 26.74% and a negative net margin of 14.39%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period 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. On average, equities analysts predict that Tesla Inc will post ($6.29) EPS for the current year.
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Several equities analysts have recently weighed in on the company. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $193.00 to $464.00 in a research note on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a research note on Tuesday, June 20th. Argus raised Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $355.17 to $444.00 in a research note on Tuesday. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price objective on the stock. in a research note on Tuesday, July 11th. Finally, Guggenheim lifted their price objective on Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $309.70.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated 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 directly owns 160,274 shares in the company, valued at $51,505,652.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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