Seeyond trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,061 shares of the electric vehicle producer’s stock after selling 661 shares during the period. Seeyond’s holdings in Tesla were worth $2,080,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in TSLA. OLD Mission Capital LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at approximately $258,000. Mark Stevens raised its position in shares of Tesla by 62.1% in the 1st quarter. Mark Stevens now owns 778 shares of the electric vehicle producer’s stock valued at $519,000 after acquiring an additional 298 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of Tesla in the 1st quarter valued at approximately $6,163,000. Foundry Partners LLC raised its position in shares of Tesla by 5.5% in the 1st quarter. Foundry Partners LLC now owns 822 shares of the electric vehicle producer’s stock valued at $549,000 after acquiring an additional 43 shares during the period. Finally, King Luther Capital Management Corp raised its position in shares of Tesla by 38.6% in the 1st quarter. King Luther Capital Management Corp now owns 700 shares of the electric vehicle producer’s stock valued at $468,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 40.28% of the company’s stock.
Several analysts have commented on TSLA shares. Wells Fargo & Company raised their target price on shares of Tesla from $590.00 to $660.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 27th. Canaccord Genuity raised their target price on shares of Tesla from $768.00 to $940.00 and gave the stock a “buy” rating in a report on Friday, October 8th. Morgan Stanley restated a “buy” rating and set a C$900.00 target price on shares of Tesla in a report on Monday, August 23rd. Sanford C. Bernstein raised their target price on shares of Tesla from $180.00 to $300.00 and gave the stock an “underperform” rating in a report on Tuesday, August 17th. Finally, Jefferies Financial Group upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their target price for the stock from $700.00 to $850.00 in a report on Monday, August 9th. Ten research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $616.89.
Shares of NASDAQ:TSLA traded up $5.05 during midday trading on Thursday, hitting $816.13. The stock had a trading volume of 105,164 shares, compared to its average volume of 27,323,652. The company has a quick ratio of 1.22, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $741.19 and its 200-day simple moving average is $684.91. Tesla, Inc. has a 12 month low of $379.11 and a 12 month high of $900.40. The company has a market cap of $807.98 billion, a P/E ratio of 425.26, a PEG ratio of 6.20 and a beta of 1.95.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Sunday, July 25th. The electric vehicle producer reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.93. Tesla had a net margin of 5.21% and a return on equity of 9.75%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.39 billion. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 3.39 earnings per share for the current year.
Tesla Company Profile
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.
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