Financial Advocates Investment Management acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,688 shares of the electric vehicle producer’s stock, valued at approximately $1,148,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in Tesla by 17.1% in the fourth quarter. Jennison Associates LLC now owns 3,382,553 shares of the electric vehicle producer’s stock valued at $1,053,158,000 after acquiring an additional 494,761 shares during the period. Janus Henderson Group PLC grew its position in Tesla by 126.6% in the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock valued at $186,601,000 after acquiring an additional 305,596 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in Tesla by 77.1% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 635,692 shares of the electric vehicle producer’s stock valued at $197,922,000 after acquiring an additional 276,781 shares during the period. Quantitative Investment Management LLC bought a new stake in Tesla in the fourth quarter valued at $30,045,000. Finally, ARK Investment Management LLC grew its position in Tesla by 122.1% in the fourth quarter. ARK Investment Management LLC now owns 140,900 shares of the electric vehicle producer’s stock valued at $43,869,000 after acquiring an additional 77,471 shares during the period. Institutional investors and hedge funds own 58.19% of the company’s stock.
In other Tesla news, VP John Douglas Field sold 1,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $334.87, for a total value of $334,870.00. Following the transaction, the vice president now owns 20,128 shares of the company’s stock, valued at $6,740,263.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eric Branderiz sold 401 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $353.50, for a total value of $141,753.50. Following the completion of the transaction, the vice president now directly owns 1,248 shares in the company, valued at approximately $441,168. The disclosure for this sale can be found here. Insiders have sold 4,654 shares of company stock worth $1,559,211 in the last ninety days. 23.10% of the stock is currently owned by insiders.
Shares of TSLA traded down $6.42 during trading hours on Friday, hitting $299.30. 13,520,286 shares of the stock traded hands, compared to its average volume of 10,129,047. The company has a quick ratio of 0.56, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. Tesla, Inc. has a 1-year low of $244.59 and a 1-year high of $389.61. The firm has a market capitalization of $50,557.75, a PE ratio of -26.07 and a beta of 1.19.
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, beating the consensus estimate of ($3.12) by $0.08. Tesla had a negative return on equity of 33.08% and a negative net margin of 16.68%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm posted ($0.69) earnings per share. The firm’s revenue for the quarter was up 43.9% compared to the same quarter last year. analysts anticipate that Tesla, Inc. will post -15.15 EPS for the current year.
A number of analysts have weighed in on the company. BidaskClub upgraded Tesla from a “strong sell” rating to a “sell” rating in a research report on Friday. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $327.47 price target on the stock. in a research report on Thursday. Royal Bank of Canada lowered their price target on Tesla to $305.00 and set a “market perform” rating on the stock in a research report on Wednesday. KeyCorp reiterated a “hold” rating on shares of Tesla in a research report on Wednesday. Finally, ValuEngine cut Tesla from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Thirteen research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Tesla presently has a consensus rating of “Hold” and a consensus price target of $313.57.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, 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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