Tesla Inc. (TSLA) Shares Bought by Capital World Investors
Capital World Investors increased its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,016,552 shares of the electric vehicle producer’s stock after buying an additional 17,452 shares during the period. Capital World Investors owned about 1.81% of Tesla worth $1,090,815,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in TSLA. Comerica Bank grew its holdings in Tesla by 2.2% in the first quarter. Comerica Bank now owns 7,191 shares of the electric vehicle producer’s stock valued at $2,219,000 after purchasing an additional 154 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Tesla by 11.9% in the first quarter. UBS Asset Management Americas Inc. now owns 325,146 shares of the electric vehicle producer’s stock valued at $90,488,000 after buying an additional 34,622 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Tesla by 70.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,504 shares of the electric vehicle producer’s stock valued at $419,000 after buying an additional 621 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Tesla by 21.5% in the first quarter. Nordea Investment Management AB now owns 4,612 shares of the electric vehicle producer’s stock valued at $1,284,000 after buying an additional 816 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Tesla in the first quarter valued at $240,000. 56.63% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Eric Branderiz sold 99 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold a total of 49,256 shares of company stock valued at $16,756,628 over the last ninety days. Insiders own 23.10% of the company’s stock.
Several brokerages have issued reports on TSLA. Vetr raised shares of Tesla from a “buy” rating to a “strong-buy” rating and set a $374.78 price target on the stock in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $180.00 price objective (down from $190.00) on shares of Tesla in a research note on Monday, July 31st. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the stock a “neutral” rating in a research note on Thursday, July 27th. Robert W. Baird restated an “outperform” rating and set a $368.00 price objective on shares of Tesla in a research report on Thursday, August 3rd. Finally, Guggenheim restated a “buy” rating and set a $430.00 price objective (up from $380.00) on shares of Tesla in a research report on Wednesday, July 5th. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $313.14.
Tesla Inc. (NASDAQ:TSLA) traded down 1.80% on Tuesday, reaching $335.38. 3,760,622 shares of the company’s stock were exchanged. The firm’s market capitalization is $55.97 billion. The firm has a 50-day moving average of $354.92 and a 200-day moving average of $332.43. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $389.61.
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 analysts’ consensus estimates of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.06) earnings per share. On average, equities analysts expect that Tesla Inc. will post ($6.32) earnings per share for the current year.
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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