Gemmer Asset Management LLC Raises Stake in Tesla Inc. (NASDAQ:TSLA)
Gemmer Asset Management LLC raised its stake in Tesla Inc. (NASDAQ:TSLA) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 779 shares of the electric vehicle producer’s stock after buying an additional 20 shares during the period. Gemmer Asset Management LLC’s holdings in Tesla were worth $282,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in TSLA. Nadler Financial Group Inc. purchased a new position in Tesla during the second quarter worth about $230,000. National Pension Service increased its position in Tesla by 9.6% in the second quarter. National Pension Service now owns 111,814 shares of the electric vehicle producer’s stock worth $40,337,000 after buying an additional 9,829 shares during the last quarter. Trust Co. of Vermont increased its position in Tesla by 6.7% in the second quarter. Trust Co. of Vermont now owns 1,829 shares of the electric vehicle producer’s stock worth $661,000 after buying an additional 115 shares during the last quarter. NEXT Financial Group Inc increased its position in Tesla by 56.1% in the second quarter. NEXT Financial Group Inc now owns 1,285 shares of the electric vehicle producer’s stock worth $465,000 after buying an additional 462 shares during the last quarter. Finally, Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter worth about $122,000. Institutional investors own 63.71% of the company’s stock.
Tesla Inc. (TSLA) opened at 355.17 on Tuesday. The firm’s 50-day moving average price is $346.20 and its 200 day moving average price is $302.00. The firm’s market capitalization is $58.68 billion. Tesla Inc. has a one year low of $178.19 and a one year high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Thomson Reuters’ 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 period last year, the business posted ($1.06) earnings per share. Tesla’s quarterly revenue was up 119.6% compared to the same quarter last year. On average, equities analysts anticipate that Tesla Inc. will post ($6.23) earnings per share for the current fiscal year.
TSLA has been the subject of a number of research reports. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Tuesday, April 25th. Vetr downgraded Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price objective for the company. in a report on Thursday, August 3rd. Deutsche Bank AG reissued a “hold” rating and set a $240.00 price target on shares of Tesla in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $180.00 price target (down from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada increased their price target on Tesla from $314.00 to $345.00 and gave the company a “sector perform” rating in a research report on Thursday, August 3rd. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $304.84.
In other news, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the transaction, the director now directly owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.10% of the stock is currently owned by company 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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