Tesla Inc. (TSLA) Stake Lifted by Jasper Ridge Partners L.P.
Jasper Ridge Partners L.P. lifted its holdings in Tesla Inc. (NASDAQ:TSLA) by 7,001.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,276 shares of the electric vehicle producer’s stock after acquiring an additional 159,005 shares during the quarter. Tesla makes up approximately 3.1% of Jasper Ridge Partners L.P.’s holdings, making the stock its 11th largest holding. Jasper Ridge Partners L.P. owned about 0.10% of Tesla worth $58,319,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Oarsman Capital Inc. acquired a new position in shares of Tesla in the 2nd quarter worth approximately $253,000. Northwestern Mutual Wealth Management Co. raised its position in Tesla by 4.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,673 shares of the electric vehicle producer’s stock worth $1,689,000 after purchasing an additional 189 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new position in Tesla in the 2nd quarter worth approximately $259,000. Thompson Davis & CO. Inc. raised its position in Tesla by 152.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 504 shares of the electric vehicle producer’s stock worth $182,000 after purchasing an additional 304 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its position in Tesla by 20.0% in the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares during the last quarter. 56.67% of the stock is currently owned by institutional investors and hedge funds.
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Several research firms recently weighed in on TSLA. Berenberg Bank upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a research report on Tuesday, June 20th. Argus upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr cut shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 target price for the company. in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price target (down previously from $190.00) on shares of Tesla in a report on Monday, July 31st. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $313.70.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock worth $18,481,047 in the last 90 days. 23.10% of the stock is currently owned by company insiders.
Shares of Tesla Inc. (NASDAQ:TSLA) traded up 4.62% during midday trading on Monday, hitting $359.25. 3,590,078 shares of the stock were exchanged. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The company’s market capitalization is $59.95 billion. The firm has a 50-day moving average of $348.02 and a 200-day moving average of $319.84.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted ($1.06) earnings per share. Tesla’s quarterly revenue was up 119.6% on a year-over-year basis. On average, equities analysts expect that Tesla Inc. will post ($6.26) EPS for the current year.
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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