Acropolis Investment Management LLC Purchases New Position in Tesla Inc. (NASDAQ:TSLA)
Acropolis Investment Management LLC purchased a new stake in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 336 shares of the electric vehicle producer’s stock, valued at approximately $122,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Catawba Capital Management VA raised its position in Tesla by 4.1% in the first quarter. Catawba Capital Management VA now owns 2,770 shares of the electric vehicle producer’s stock worth $771,000 after buying an additional 110 shares in the last quarter. CENTRAL TRUST Co raised its position in Tesla by 14.8% in the first quarter. CENTRAL TRUST Co now owns 1,601 shares of the electric vehicle producer’s stock worth $446,000 after buying an additional 206 shares in the last quarter. Rathbone Brothers plc raised its position in Tesla by 4.6% in the first quarter. Rathbone Brothers plc now owns 12,192 shares of the electric vehicle producer’s stock worth $3,393,000 after buying an additional 532 shares in the last quarter. Macquarie Group Ltd. raised its position in Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock worth $10,391,000 after buying an additional 8,800 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Tesla by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 153,551 shares of the electric vehicle producer’s stock worth $32,812,000 after buying an additional 13,705 shares in the last quarter. Institutional investors and hedge funds own 63.78% of the company’s stock.
Shares of Tesla Inc. (NASDAQ TSLA) opened at 356.91 on Monday. Tesla Inc. has a one year low of $178.19 and a one year high of $386.99. The firm has a 50-day moving average of $346.20 and a 200-day moving average of $302.00. The stock’s market cap is $58.97 billion.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 17.71%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned ($1.06) earnings per share. The company’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, equities research analysts expect that Tesla Inc. will post ($6.15) earnings per share for the current fiscal year.
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A number of research firms recently weighed in on TSLA. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price objective for the company in a research note on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a research note on Tuesday, June 20th. BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Goldman Sachs Group Inc set a $180.00 price target on shares of Tesla and gave the company a “sell” rating in a research report on Friday, June 30th. Finally, Morgan Stanley restated an “equal weight” rating and set a $305.00 price target on shares of Tesla in a research report on Monday, June 12th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $304.84.
In other Tesla news, insider Jeffrey B. Straubel sold 109,100 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $307.81, for a total transaction of $33,582,071.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The disclosure for this sale can be found here. Insiders sold 115,980 shares of company stock valued at $36,010,269 in the last three months. 23.10% of the stock is currently owned by insiders.
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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