DekaBank Deutsche Girozentrale grew its stake in Tesla Inc (NASDAQ:TSLA) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,095 shares of the electric vehicle producer’s stock after purchasing an additional 2,071 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Tesla were worth $3,448,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Janus Henderson Group PLC raised its position in Tesla by 89.0% in the 1st quarter. Janus Henderson Group PLC now owns 126,851 shares of the electric vehicle producer’s stock valued at $35,496,000 after purchasing an additional 59,736 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Tesla during the first quarter worth approximately $92,000. Private Ocean LLC boosted its stake in Tesla by 1,413.3% during the 1st quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock worth $64,000 after acquiring an additional 212 shares during the last quarter. Fort Point Capital Partners LLC grew its holdings in Tesla by 8.1% during the first quarter. Fort Point Capital Partners LLC now owns 1,660 shares of the electric vehicle producer’s stock valued at $465,000 after purchasing an additional 124 shares during the period. Finally, Noven Financial Group Inc. bought a new stake in Tesla in the first quarter valued at approximately $245,000. Institutional investors and hedge funds own 54.44% of the company’s stock.
Several equities analysts have recently weighed in on TSLA shares. Evercore ISI cut their price objective on Tesla from $240.00 to $200.00 and set an “underperform” rating on the stock in a report on Wednesday, May 15th. They noted that the move was a valuation call. UBS Group set a $160.00 price target on Tesla and gave the company a “sell” rating in a report on Thursday, July 25th. JMP Securities cut their target price on Tesla to $337.00 in a research note on Thursday, July 25th. Robert W. Baird lowered their price objective on shares of Tesla from $400.00 to $340.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Finally, BidaskClub raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Tuesday. Eighteen analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $269.53.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the firm posted ($3.06) earnings per share. Tesla’s quarterly revenue was up 58.7% compared to the same quarter last year. Sell-side analysts forecast that Tesla Inc will post -7.51 earnings per share for the current year.
In other news, Director Kathleen Wilson-Thompson purchased 360 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $221.71 per share, with a total value of $79,815.60. Following the completion of the transaction, the director now directly owns 360 shares of the company’s stock, valued at $79,815.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $224.00, for a total transaction of $33,600.00. Following the completion of the sale, the chief financial officer now owns 9,812 shares of the company’s stock, valued at approximately $2,197,888. The disclosure for this sale can be found here. Insiders have sold a total of 30,300 shares of company stock valued at $6,881,352 in the last quarter. Company insiders own 24.40% of the company’s stock.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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