Zurich Insurance Group Ltd FI Has $6.07 Million Position in Tesla Inc. (TSLA)
Zurich Insurance Group Ltd FI increased its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 13.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,780 shares of the electric vehicle producer’s stock after buying an additional 1,955 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Tesla were worth $6,068,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC lifted its position in Tesla by 0.4% during the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock worth $309,000 after buying an additional 4 shares in the last quarter. North Star Investment Management Corp. raised its position in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after purchasing an additional 9 shares during the period. Cornerstone Advisors Inc. raised its position in Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after purchasing an additional 9 shares during the period. Sterling Investment Advisors Ltd. raised its position in Tesla by 2.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after purchasing an additional 18 shares during the period. Finally, Gemmer Asset Management LLC raised its position in Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock valued at $282,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 56.63% of the company’s stock.
Tesla Inc. (TSLA) traded up 0.44% during mid-day trading on Friday, reaching $341.10. The company’s stock had a trading volume of 5,107,082 shares. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $389.61. The firm’s market capitalization is $56.93 billion. The stock’s 50-day moving average is $354.97 and its 200-day moving average is $325.99.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted ($1.06) earnings per share. Tesla’s revenue was up 119.6% on a year-over-year basis. On average, equities analysts anticipate that Tesla Inc. will post ($6.32) EPS for the current year.
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In other Tesla news, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 2,190 shares of the firm’s 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 completion of the transaction, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock worth $18,481,047 in the last three months. 23.10% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on TSLA shares. Goldman Sachs Group, Inc. (The) lifted their target price on Tesla from $180.00 to $190.00 in a research report on Friday, August 4th. BidaskClub downgraded Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Global Equities Research restated a “buy” rating and issued a $385.00 target price on shares of Tesla in a research report on Tuesday, June 13th. Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $193.00 to $464.00 in a research report on Tuesday, June 13th. Finally, Guggenheim restated a “buy” rating and issued a $430.00 target price (up previously 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 given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $312.81.
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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