Castleark Management LLC trimmed its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,554 shares of the electric vehicle producer’s stock after selling 710 shares during the period. Castleark Management LLC’s holdings in Tesla were worth $16,995,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC grew its stake in Tesla by 33.6% in the 2nd quarter. Jennison Associates LLC now owns 4,332,187 shares of the electric vehicle producer’s stock worth $1,485,724,000 after acquiring an additional 1,089,377 shares during the period. Summit Trail Advisors LLC grew its stake in Tesla by 74,343.1% in the 1st quarter. Summit Trail Advisors LLC now owns 583,634 shares of the electric vehicle producer’s stock worth $584,000 after acquiring an additional 582,850 shares during the period. Baillie Gifford & Co. grew its stake in Tesla by 3.1% in the 2nd quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock worth $4,517,269,000 after acquiring an additional 395,727 shares during the period. Soma Equity Partners LP purchased a new stake in Tesla in the 1st quarter worth approximately $45,242,000. Finally, SG Americas Securities LLC grew its stake in Tesla by 239.9% in the 2nd quarter. SG Americas Securities LLC now owns 190,942 shares of the electric vehicle producer’s stock worth $65,484,000 after acquiring an additional 134,759 shares during the period. 56.26% of the stock is owned by institutional investors and hedge funds.
Shares of TSLA opened at $295.20 on Monday. The firm has a market capitalization of $49.56 billion, a price-to-earnings ratio of -25.71 and a beta of 0.87. Tesla Inc has a fifty-two week low of $244.59 and a fifty-two week high of $389.61. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 2.01.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.61) by $0.55. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. Tesla’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.33) EPS. sell-side analysts forecast that Tesla Inc will post -10.77 earnings per share for the current fiscal year.
Several analysts have commented on TSLA shares. KeyCorp set a $300.00 target price on shares of Tesla and gave the stock a “hold” rating in a research note on Tuesday, July 3rd. Goldman Sachs Group reaffirmed a “sell” rating on shares of Tesla in a research note on Sunday, July 8th. ValuEngine raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Royal Bank of Canada lifted their target price on shares of Tesla to $315.00 and gave the stock a “positive” rating in a research note on Thursday, August 2nd. Finally, Barclays set a $210.00 target price on shares of Tesla and gave the stock a “sell” rating in a research note on Monday, August 27th. Thirteen investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Tesla has an average rating of “Hold” and an average target price of $312.71.
In related news, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $358.26, for a total transaction of $671,737.50. Following the transaction, the director now owns 150,208 shares in the company, valued at approximately $53,813,518.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.80% of the company’s stock.
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.
Featured Story: Return on Equity (ROE)
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla Inc (NASDAQ:TSLA).
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.