Rhumbline Advisers raised its position in shares of Tesla Inc (NASDAQ:TSLA) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,187 shares of the electric vehicle producer’s stock after buying an additional 3,559 shares during the quarter. Rhumbline Advisers’ holdings in Tesla were worth $39,600,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Ark Investment Management LLC grew its holdings in Tesla by 67.0% during the 2nd quarter. Ark Investment Management LLC now owns 37,836 shares of the electric vehicle producer’s stock valued at $13,682,000 after buying an additional 15,186 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Tesla by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 100,312 shares of the electric vehicle producer’s stock valued at $36,274,000 after buying an additional 1,522 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Tesla by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,203 shares of the electric vehicle producer’s stock valued at $2,244,000 after buying an additional 388 shares in the last quarter. Bank of Nova Scotia purchased a new position in Tesla during the 2nd quarter valued at approximately $796,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Tesla during the 2nd quarter valued at approximately $314,000. Institutional investors and hedge funds own 54.86% of the company’s stock.
Several research firms have recently issued reports on TSLA. Zacks Investment Research lowered Tesla from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Jefferies Group lowered Tesla from an “in-line” rating to an “underperform” rating and lowered their price objective for the company from $312.00 to $240.00 in a research note on Friday, October 27th. Nomura reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday, October 31st. ValuEngine raised Tesla from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Vetr lowered Tesla from a “buy” rating to a “hold” rating and set a $331.97 price objective for the company. in a research note on Tuesday, January 9th. Thirteen analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $324.20.
In related news, Director Kimbal Musk sold 4,065 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total transaction of $1,268,605.20. Following the completion of the sale, the director now directly owns 154,589 shares of the company’s stock, valued at approximately $48,244,135.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric Branderiz sold 1,229 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $312.61, for a total value of $384,197.69. Following the transaction, the vice president now owns 4,808 shares in the company, valued at $1,503,028.88. The disclosure for this sale can be found here. Insiders have sold a total of 10,231 shares of company stock valued at $3,292,431 over the last three months. 23.10% of the stock is owned by corporate insiders.
Shares of Tesla Inc (TSLA) opened at $335.49 on Tuesday. Tesla Inc has a one year low of $242.01 and a one year high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($3.12) by $0.08. Tesla had a negative return on equity of 32.11% and a negative net margin of 16.68%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company earned ($0.69) EPS. Tesla’s quarterly revenue was up 43.9% compared to the same quarter last year. analysts predict that Tesla Inc will post -15.15 earnings per share for the current fiscal year.
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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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